Newmont Co. (NYSE:NEM) Shares Bought by Signature Wealth Management Partners LLC

Signature Wealth Management Partners LLC boosted its position in Newmont Co. (NYSE:NEM) by 14.4% in the 4th quarter, Holdings Channel reports. The fund owned 15,887 shares of the basic materials company’s stock after purchasing an additional 2,000 shares during the period. Signature Wealth Management Partners LLC’s holdings in Newmont were worth $591,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IRON Financial LLC lifted its holdings in shares of Newmont by 5.2% during the 4th quarter. IRON Financial LLC now owns 8,933 shares of the basic materials company’s stock worth $332,000 after acquiring an additional 443 shares during the period. Pacer Advisors Inc. increased its position in Newmont by 46.8% during the fourth quarter. Pacer Advisors Inc. now owns 124,935 shares of the basic materials company’s stock worth $4,650,000 after purchasing an additional 39,857 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Newmont during the fourth quarter worth approximately $7,508,000. Blue Trust Inc. boosted its holdings in shares of Newmont by 9.9% in the 4th quarter. Blue Trust Inc. now owns 20,657 shares of the basic materials company’s stock valued at $769,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Newmont by 53.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,640 shares of the basic materials company’s stock valued at $322,000 after buying an additional 3,001 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NEM stock opened at $41.36 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s 50 day moving average is $40.34 and its two-hundred day moving average is $46.77. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Insider Buying and Selling

In other 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 transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,077 shares of company stock worth $563,080. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NEM. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada reduced their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Jefferies Financial Group lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

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.