Strengthening Families & Communities LLC Cuts Stake in Newmont Co. (NYSE:NEM)

Strengthening Families & Communities LLC decreased its holdings in Newmont Co. (NYSE:NEM) by 95.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,815 shares of the basic materials company’s stock after selling 42,642 shares during the period. Strengthening Families & Communities LLC’s holdings in Newmont were worth $68,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its stake 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 purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Newmont during the 3rd quarter valued at $28,000. Highline Wealth Partners LLC bought a new stake in Newmont during the 3rd quarter valued at $32,000. HHM Wealth Advisors LLC raised its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Finally, McIlrath & Eck LLC raised its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank decreased their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Newmont Price Performance

Shares of Newmont stock opened at $46.44 on Tuesday. 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 company has a 50-day moving average of $40.47 and a 200 day moving average of $46.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

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.