Newmont Co. (NYSE:NEM) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC cut its position in Newmont Co. (NYSE:NEM) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,970 shares of the basic materials company’s stock after selling 714 shares during the period. Stratos Wealth Advisors LLC’s holdings in Newmont were worth $1,153,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after buying an additional 326,243 shares during the period. 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 acquiring an additional 1,226,697 shares during the period. Ninety One UK Ltd raised its holdings in shares of Newmont by 27.5% during the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after purchasing an additional 744,718 shares during the last quarter. Swiss National Bank lifted its position in Newmont by 0.3% during the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after purchasing an additional 9,500 shares during the period. Finally, National Pension Service boosted its holdings in Newmont by 27.9% in the third quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after purchasing an additional 552,698 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last three months. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.1 %

Shares of NEM opened at $44.93 on Friday. The stock has a 50 day moving average price of $40.35 and a 200 day moving average price of $46.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of -29.56, a PEG ratio of 0.36 and a beta of 0.52. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. Bernstein Bank lifted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

About Newmont

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.