Janney Montgomery Scott LLC Has $6.05 Million Stock Position in Newmont Co. (NYSE:NEM)

Janney Montgomery Scott LLC cut its position in Newmont Co. (NYSE:NEMFree Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,551 shares of the basic materials company’s stock after selling 4,253 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Newmont were worth $6,050,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NEM. Hoese & Co LLP acquired a new position in Newmont during the third quarter worth $27,000. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the 3rd 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 bought a new position in Newmont during the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new position in Newmont in the third quarter valued at about $32,000. Finally, McIlrath & Eck LLC grew its stake 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. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

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

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. 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. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Get Our Latest Stock Analysis on NEM

Newmont Stock Down 0.5 %

Shares of NYSE:NEM opened at $41.36 on Wednesday. The business’s 50 day moving average is $40.34 and its 200 day moving average is $46.77. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a market cap of $47.08 billion, a price-to-earnings ratio of -27.21, a PEG ratio of 0.33 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

About Newmont

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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