Financial Sense Advisors Inc. Has $4.29 Million Stock Position in Newmont Co. (NYSE:NEM)

Financial Sense Advisors Inc. lessened its stake in shares of Newmont Co. (NYSE:NEM) by 23.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,257 shares of the basic materials company’s stock after selling 35,463 shares during the quarter. Newmont comprises 1.4% of Financial Sense Advisors Inc.’s investment portfolio, making the stock its 16th biggest holding. Financial Sense Advisors Inc.’s holdings in Newmont were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Newmont in the third quarter worth approximately $28,000. Highline Wealth Partners LLC purchased a new position in shares of Newmont during the third quarter valued at approximately $32,000. HHM Wealth Advisors LLC grew its holdings in 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 buying an additional 350 shares in the last quarter. Finally, McIlrath & Eck LLC increased its holdings in Newmont by 80.6% in 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. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Bernstein Bank upped their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. One 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 an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Stock Performance

Shares of NYSE NEM opened at $47.42 on Thursday. Newmont Co. has a 1-year low of $29.42 and a 1-year 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’s 50-day moving average is $41.33 and its 200 day moving average is $46.46. The stock has a market cap of $53.99 billion, a price-to-earnings ratio of -31.20, a P/E/G ratio of 0.39 and a beta of 0.52.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s 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 $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by insiders.

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.