Koa Wealth Management LLC Buys Shares of 25,092 Newmont Co. (NYSE:NEM)

Koa Wealth Management LLC purchased a new position in Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,092 shares of the basic materials company’s stock, valued at approximately $934,000.

Several other hedge funds have also recently made changes to their positions in NEM. Hoese & Co LLP purchased a new stake in Newmont during the 3rd quarter valued at $27,000. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Newmont in the third quarter valued at about $28,000. Highline Wealth Partners LLC purchased a new position in Newmont in the third quarter worth about $32,000. Finally, McIlrath & Eck LLC grew its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $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 available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NEM. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Performance

Shares of NEM stock opened at $43.11 on Friday. The company’s fifty day simple moving average is $40.27 and its two-hundred day simple moving average is $46.69. The company has a current ratio of 1.96, a quick ratio of 1.73 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.

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.