Newmont Co. (NYSE:NEM) Shares Sold by KLCM Advisors Inc.

KLCM Advisors Inc. decreased its position in shares of Newmont Co. (NYSE:NEM) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 480,849 shares of the basic materials company’s stock after selling 3,294 shares during the quarter. Newmont comprises approximately 2.1% of KLCM Advisors Inc.’s portfolio, making the stock its 10th biggest holding. KLCM Advisors Inc.’s holdings in Newmont were worth $17,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NEM. Avior Wealth Management LLC boosted its holdings in Newmont by 191.8% in the 3rd 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 last quarter. Prospera Private Wealth LLC acquired a new position in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new position in Newmont in the third quarter worth approximately $32,000. McIlrath & Eck LLC grew its position in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the period. Finally, HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last 90 days. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $46.61 on Monday. The business has a 50-day simple moving average of $41.01 and a 200-day simple moving average of $46.50. 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 one year low of $29.42 and a one year high of $58.72. The company has a market cap of $53.06 billion, a PE ratio of -30.66, a P/E/G ratio of 0.38 and a beta of 0.52.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NEM. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Company 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.