Avestar Capital LLC Raises Stake in Newmont Co. (NYSE:NEM)

Avestar Capital LLC increased its stake in Newmont Co. (NYSE:NEM) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,757 shares of the basic materials company’s stock after purchasing an additional 352 shares during the quarter. Avestar Capital LLC’s holdings in Newmont were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stanley Laman Group Ltd. increased its holdings in Newmont by 40.0% in the fourth quarter. Stanley Laman Group Ltd. now owns 7,000 shares of the basic materials company’s stock valued at $261,000 after buying an additional 2,000 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the period. Harvey Capital Management Inc. acquired a new position in Newmont during the fourth quarter worth $421,000. Allspring Global Investments Holdings LLC boosted its position in Newmont by 13.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 582,060 shares of the basic materials company’s stock worth $22,178,000 after purchasing an additional 69,271 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its holdings in Newmont by 3.9% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 14,807 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 554 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 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 value of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. 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 three months. 0.06% of the stock is currently owned by company insiders.

Newmont Price Performance

Shares of Newmont stock opened at $46.61 on Friday. The business’s fifty day moving average price is $41.01 and its 200 day moving average price is $46.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $53.06 billion, a P/E ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52.

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.