Empower Advisory Group LLC Has $67.51 Million Stock Position in Newmont Co. (NYSE:NEM)

Empower Advisory Group LLC boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,813,920 shares of the basic materials company’s stock after acquiring an additional 27,605 shares during the quarter. Empower Advisory Group LLC owned 0.16% of Newmont worth $67,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont during the third quarter valued at $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $32,000. HHM Wealth Advisors LLC grew its position in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Finally, McIlrath & Eck LLC increased its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Buying and Selling

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 in the last three months. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $46.61 on Tuesday. The stock has a market capitalization of $53.06 billion, a price-to-earnings ratio of -30.66, a P/E/G ratio of 0.38 and a beta of 0.52. The firm’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $46.48. 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 1-year low of $29.42 and a 1-year high of $58.72.

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.