Catalyst Capital Advisors LLC Trims Stake in Newmont Co. (NYSE:NEM)

Catalyst Capital Advisors LLC lowered its stake in shares of Newmont Co. (NYSE:NEM) by 56.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,451 shares of the basic materials company’s stock after selling 1,851 shares during the period. Catalyst Capital Advisors LLC’s holdings in Newmont were worth $54,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Creative Planning increased its position in shares of Newmont by 23.4% during the third quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock valued at $6,915,000 after buying an additional 24,536 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Newmont by 8.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 512,789 shares of the basic materials company’s stock valued at $27,409,000 after buying an additional 39,045 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Newmont during the third quarter valued at about $48,000. Whittier Trust Co. increased its position in shares of Newmont by 3.0% during the third quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock valued at $804,000 after buying an additional 435 shares during the period. Finally, Cetera Trust Company N.A purchased a new position in shares of Newmont during the third quarter valued at about $705,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 2.1 %

Shares of Newmont stock opened at $47.53 on Wednesday. The company has a market cap of $54.10 billion, a price-to-earnings ratio of -31.27, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. The company’s 50 day moving average is $41.11 and its 200 day moving average is $46.46. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. 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 Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 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 value of $120,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the 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 $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 over the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent research reports. Scotiabank cut their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.37.

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.