Newmont Co. (NYSE:NEM) Stock Position Trimmed by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC trimmed its holdings in Newmont Co. (NYSE:NEM) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,689 shares of the basic materials company’s stock after selling 282 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Newmont were worth $472,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Heathbridge Capital Management Ltd. raised its stake in shares of Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB raised its position in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 221 shares during the period. Carmel Capital Partners LLC increased its stake in shares of Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC raised its holdings in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Scotiabank reduced their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont 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 directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 14,077 shares of company stock valued at $563,080 in the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.6 %

NYSE:NEM opened at $41.91 on Friday. The stock has a market cap of $47.72 billion, a PE ratio of -27.57, a price-to-earnings-growth ratio of 0.34 and a beta of 0.50. 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. The stock’s 50-day moving average is $40.31 and its two-hundred day moving average is $46.83.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

Newmont Company 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.