Kestra Private Wealth Services LLC Purchases 1,925 Shares of Newmont Co. (NYSE:NEM)

Kestra Private Wealth Services LLC raised its holdings in shares of Newmont Co. (NYSE:NEM) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 40,429 shares of the basic materials company’s stock after acquiring an additional 1,925 shares during the period. Kestra Private Wealth Services LLC’s holdings in Newmont were worth $1,505,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its holdings in shares of 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 buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $32,000. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the period. Finally, McIlrath & Eck LLC boosted its position in Newmont by 80.6% during the 3rd 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 last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were 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 represents a 3.50 % 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 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Newmont Trading Up 2.9 %

Shares of Newmont stock opened at $46.83 on Thursday. The firm’s 50 day moving average is $40.66 and its 200 day moving average is $46.49. The firm has a market capitalization of $53.31 billion, a PE ratio of -30.81, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEM. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Finally, Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.