Lee Financial Co Boosts Holdings in Newmont Co. (NYSE:NEM)

Lee Financial Co boosted its stake in Newmont Co. (NYSE:NEM) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 31,744 shares of the basic materials company’s stock after buying an additional 407 shares during the quarter. Lee Financial Co’s holdings in Newmont were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NEM. Avior Wealth Management LLC lifted 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 purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new stake in Newmont in the third quarter valued at approximately $32,000. HHM Wealth Advisors LLC boosted its holdings in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Finally, McIlrath & Eck LLC grew its position in shares of Newmont by 80.6% during the third 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.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.37.

Newmont Price Performance

NEM stock opened at $46.61 on Friday. 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 firm has a 50 day moving average of $41.01 and a 200-day moving average of $46.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Insider Buying and Selling

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 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 transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

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.