Silverlake Wealth Management LLC Has $639,000 Stock Position in Newmont Co. (NYSE:NEM)

Silverlake Wealth Management LLC decreased its stake in Newmont Co. (NYSE:NEM) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,177 shares of the basic materials company’s stock after selling 578 shares during the period. Silverlake Wealth Management LLC’s holdings in Newmont were worth $639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ninety One UK Ltd lifted its position in Newmont by 27.5% in the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after purchasing an additional 744,718 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in shares of Newmont by 9.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 52,342 shares of the basic materials company’s stock valued at $1,948,000 after acquiring an additional 4,400 shares during the period. Mather Group LLC. lifted its holdings in shares of Newmont by 5.8% during the fourth quarter. Mather Group LLC. now owns 33,473 shares of the basic materials company’s stock valued at $1,246,000 after acquiring an additional 1,843 shares during the period. S.A. Mason LLC lifted its holdings in shares of Newmont by 97.5% during the fourth quarter. S.A. Mason LLC now owns 5,845 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 2,885 shares during the period. Finally, JB Capital LLC lifted its holdings in shares of Newmont by 21.4% during the fourth quarter. JB Capital LLC now owns 91,097 shares of the basic materials company’s stock valued at $3,391,000 after acquiring an additional 16,071 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.6 %

NYSE NEM opened at $43.37 on Wednesday. The stock’s 50 day moving average price is $40.27 and its two-hundred day moving average price is $46.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One 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. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The transaction 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 business’s 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 $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.