Catalyst Capital Advisors LLC Sells 1,851 Shares of Newmont Co. (NYSE:NEM)

Catalyst Capital Advisors LLC lessened its stake in Newmont Co. (NYSE:NEM) by 56.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,451 shares of the basic materials company’s stock after selling 1,851 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Newmont were worth $54,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Creative Planning grew its stake in Newmont by 23.4% in the 3rd quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock valued at $6,915,000 after buying an additional 24,536 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Newmont by 8.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 512,789 shares of the basic materials company’s stock valued at $27,409,000 after buying an additional 39,045 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Newmont in the 3rd quarter valued at approximately $48,000. Whittier Trust Co. grew its stake in Newmont by 3.0% in the 3rd quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock valued at $804,000 after buying an additional 435 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new position in Newmont in the 3rd quarter valued at approximately $705,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Stock Performance

Newmont stock opened at $47.53 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $54.10 billion, a PE ratio of -31.27, a P/E/G ratio of 0.38 and a beta of 0.52. The firm has a fifty day simple moving average of $41.11 and a two-hundred day simple moving average of $46.46. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Insiders Place Their Bets

In other news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last three months. Insiders own 0.06% of the company’s stock.

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.