GFS Advisors LLC Acquires 2,400 Shares of Newmont Co. (NYSE:NEM)

GFS Advisors LLC raised its holdings in Newmont Co. (NYSE:NEM) by 63.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,200 shares of the basic materials company’s stock after buying an additional 2,400 shares during the period. GFS Advisors LLC’s holdings in Newmont were worth $231,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Activity at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the 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 $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Down 0.9 %

Shares of NEM opened at $42.71 on Friday. 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 52-week low of $29.42 and a 52-week high of $58.72. The business’s fifty day moving average is $40.27 and its 200-day moving average is $46.66.

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.