Hedges Asset Management LLC Increases Stake in Newmont Co. (NYSE:NEM)

Hedges Asset Management LLC boosted its stake in Newmont Co. (NYSE:NEM) by 25.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,450 shares of the basic materials company’s stock after buying an additional 4,571 shares during the period. Hedges Asset Management LLC’s holdings in Newmont were worth $836,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NEM. Sei Investments Co. raised its position in Newmont by 26.8% in the second quarter. Sei Investments Co. now owns 258,572 shares of the basic materials company’s stock worth $10,826,000 after acquiring an additional 54,713 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Newmont by 18.5% in the second quarter. Thrivent Financial for Lutherans now owns 80,838 shares of the basic materials company’s stock worth $3,385,000 after purchasing an additional 12,597 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Newmont by 107.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,221 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 632 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Newmont by 206.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,559 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 2,397 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Newmont by 73.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 44,338 shares of the basic materials company’s stock valued at $1,856,000 after acquiring an additional 18,823 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, 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. Over the last quarter, insiders sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Newmont Trading Up 0.6 %

NEM opened at $41.91 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The business’s 50 day moving average is $40.31 and its two-hundred day moving average is $46.83.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company 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%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Analysts predict 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.