Nations Financial Group Inc. IA ADV Raises Holdings in Newmont Co. (NYSE:NEM)

Nations Financial Group Inc. IA ADV increased its position in shares of Newmont Co. (NYSE:NEM) by 14.2% in the 4th quarter, Holdings Channel reports. The firm owned 42,208 shares of the basic materials company’s stock after purchasing an additional 5,234 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Newmont were worth $1,571,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont in the 3rd quarter valued at $28,000. Highline Wealth Partners LLC purchased a new stake in Newmont in the 3rd quarter valued at $32,000. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Finally, McIlrath & Eck LLC grew its holdings in 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 buying an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. This represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. CLSA began coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Raymond James dropped their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Scotiabank dropped 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, January 21st. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.37.

Newmont Price Performance

NEM opened at $46.61 on Friday. The stock’s 50-day moving average price is $41.01 and its 200 day moving average price is $46.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market cap of $53.06 billion, a price-to-earnings ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52.

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.