Newmont Co. (NYSE:NEM) Stake Reduced by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 86.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,987 shares of the basic materials company’s stock after selling 694,348 shares during the period. SG Americas Securities LLC’s holdings in Newmont were worth $3,982,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Trading Up 0.2 %

Newmont stock opened at $42.05 on Friday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company’s fifty day moving average price is $40.33 and its two-hundred day moving average price is $46.79. 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 company has a market capitalization of $47.87 billion, a price-to-earnings ratio of -27.66, a PEG ratio of 0.33 and a beta of 0.50.

Newmont (NYSE:NEM) last issued 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). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, analysts forecast that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock valued at $563,080 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

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.