HB Wealth Management LLC Has $539,000 Position in Newmont Co. (NYSE:NEM)

HB Wealth Management LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,471 shares of the basic materials company’s stock after purchasing an additional 673 shares during the quarter. HB Wealth Management LLC’s holdings in Newmont were worth $539,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Zurich Insurance Group Ltd FI acquired a new position in Newmont in the 3rd quarter valued at $98,011,000. Nordea Investment Management AB grew its position in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. FMR LLC increased its stake in shares of Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after purchasing an additional 1,096,905 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Newmont by 6,387.0% during the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock worth $52,377,000 after purchasing an additional 964,815 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $41.64 on Thursday. The stock has a market capitalization of $47.40 billion, a price-to-earnings ratio of -27.39, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50. The business’s fifty day moving average price is $40.30 and its two-hundred day moving average price is $46.86. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. As a group, analysts predict that Newmont Co. will post 3.1 EPS for the current fiscal year.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 14,077 shares of company stock valued at $563,080. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.44.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.