Patriot Financial Group Insurance Agency LLC Sells 6,747 Shares of Newmont Co. (NYSE:NEM)

Patriot Financial Group Insurance Agency LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 15.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,418 shares of the basic materials company’s stock after selling 6,747 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Newmont were worth $1,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Hoese & Co LLP acquired a new stake in shares of Newmont in the 3rd quarter valued at about $27,000. Avior Wealth Management LLC grew its stake in Newmont by 191.8% in 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 period. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the third quarter valued at approximately $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont during the third quarter worth approximately $32,000. Finally, McIlrath & Eck LLC grew its position 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 purchasing an additional 361 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Down 0.0 %

Shares of NYSE NEM opened at $41.56 on Tuesday. 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 stock has a market capitalization of $47.31 billion, a PE ratio of -27.31, a P/E/G ratio of 0.33 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The business’s fifty day moving average price is $40.35 and its 200-day moving average price is $46.81.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEM. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CLSA assumed coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. Finally, Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. One 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.44.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 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 value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

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.