MCF Advisors LLC Sells 785 Shares of Newmont Co. (NYSE:NEM)

MCF Advisors LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 27.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,048 shares of the basic materials company’s stock after selling 785 shares during the quarter. MCF Advisors LLC’s holdings in Newmont were worth $76,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Heathbridge Capital Management Ltd. boosted its position in Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after buying an additional 200 shares during the period. E. Ohman J or Asset Management AB raised its stake in shares of Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after acquiring an additional 200 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares during the period. Carmel Capital Partners LLC grew its stake in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC increased its holdings in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group upped their price objective 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. Finally, Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Activity

In related news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $41.64 on Thursday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock’s 50 day moving average is $40.30 and its 200-day moving average is $46.86. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $47.40 billion, a price-to-earnings ratio of -27.39, a PEG ratio of 0.33 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Sell-side analysts forecast that Newmont Co. will post 3.1 EPS for the current fiscal year.

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.