Jacobsen Capital Management Sells 764 Shares of Newmont Co. (NYSE:NEM)

Jacobsen Capital Management lessened its position in Newmont Co. (NYSE:NEM) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,615 shares of the basic materials company’s stock after selling 764 shares during the quarter. Jacobsen Capital Management’s holdings in Newmont were worth $432,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NEM. Hoese & Co LLP bought a new stake in Newmont during the third quarter worth about $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 during the last quarter. Prospera Private Wealth LLC bought a new stake in Newmont during the third quarter worth $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont in the 3rd quarter valued at about $32,000. Finally, McIlrath & Eck LLC lifted its position in shares of Newmont by 80.6% in the third 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. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEM. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. 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. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.44.

Newmont Stock Down 0.9 %

Shares of NYSE:NEM opened at $42.71 on Friday. The business has a fifty day simple moving average of $40.26 and a 200 day simple moving average of $46.62. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market cap of $48.63 billion, a P/E ratio of -28.10, a P/E/G ratio of 0.35 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.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly 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 SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This represents 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.

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.