Exchange Traded Concepts LLC Buys 3,001 Shares of Newmont Co. (NYSE:NEM)

Exchange Traded Concepts LLC lifted its stake in shares of Newmont Co. (NYSE:NEMFree Report) by 53.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,640 shares of the basic materials company’s stock after acquiring an additional 3,001 shares during the period. Exchange Traded Concepts LLC’s holdings in Newmont were worth $322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hoese & Co LLP bought a new position in Newmont during the 3rd quarter worth about $27,000. Avior Wealth Management LLC boosted 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 buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Newmont during the third quarter worth about $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the 3rd quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC lifted its stake 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 acquiring an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % 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 over the last ninety days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Jefferies Financial Group boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Raymond James decreased their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, Scotiabank dropped their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Read Our Latest Stock Report on NEM

Newmont Stock Performance

Shares of Newmont stock opened at $43.11 on Friday. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of -28.36, a P/E/G 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. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company’s fifty day moving average is $40.27 and its 200 day moving average is $46.69.

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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