Newmont Co. (NYSE:NEM) Shares Sold by PFG Investments LLC

PFG Investments LLC lessened its stake in Newmont Co. (NYSE:NEM) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,168 shares of the basic materials company’s stock after selling 570 shares during the quarter. PFG Investments LLC’s holdings in Newmont were worth $341,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of Newmont by 35.9% during the 2nd quarter. Creative Planning now owns 104,843 shares of the basic materials company’s stock worth $4,390,000 after acquiring an additional 27,722 shares during the period. Truist Financial Corp raised its stake in Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after purchasing an additional 11,276 shares during the period. Cetera Investment Advisers boosted its holdings in Newmont by 12.1% in the 2nd quarter. Cetera Investment Advisers now owns 230,761 shares of the basic materials company’s stock valued at $9,662,000 after purchasing an additional 24,867 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Newmont by 24.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 27,243 shares of the basic materials company’s stock valued at $1,141,000 after buying an additional 5,377 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Newmont by 21.0% during the 2nd quarter. Clearbridge Investments LLC now owns 40,514 shares of the basic materials company’s stock worth $1,696,000 after buying an additional 7,020 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $43.11 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm has a market capitalization of $49.08 billion, a P/E ratio of -28.36, a P/E/G ratio of 0.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company’s fifty day moving average price is $40.27 and its 200 day moving average price is $46.69.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Bernstein Bank increased their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.