Quent Capital LLC Reduces Stake in Newmont Co. (NYSE:NEM)

Quent Capital LLC lowered its stake in shares of Newmont Co. (NYSE:NEM) by 28.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,654 shares of the basic materials company’s stock after selling 666 shares during the period. Quent Capital LLC’s holdings in Newmont were worth $62,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC increased 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. Prospera Private Wealth LLC purchased a new stake in Newmont in the 3rd quarter worth about $28,000. Highline Wealth Partners LLC purchased a new stake in Newmont in the 3rd quarter worth about $32,000. McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% during the third 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 last quarter. Finally, HHM Wealth Advisors LLC boosted its position in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Bernstein Bank upped 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 research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $47.79 on Friday. The firm has a market capitalization of $54.40 billion, a PE ratio of -31.44, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. 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 12 month low of $29.42 and a 12 month high of $58.72. The business’s 50-day moving average price is $40.76 and its 200-day moving average price is $46.50.

Newmont 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.