Boston Financial Mangement LLC Acquires 1,505 Shares of Newmont Co. (NYSE:NEM)

Boston Financial Mangement LLC increased its stake in Newmont Co. (NYSE:NEM) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,485 shares of the basic materials company’s stock after purchasing an additional 1,505 shares during the quarter. Boston Financial Mangement LLC’s holdings in Newmont were worth $3,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Creative Planning lifted its position in shares of Newmont by 23.4% during the 3rd quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock valued at $6,915,000 after buying an additional 24,536 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Newmont by 8.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 512,789 shares of the basic materials company’s stock valued at $27,409,000 after purchasing an additional 39,045 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Newmont by 3.0% in the third quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock worth $804,000 after purchasing an additional 435 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Newmont by 35.4% in the third quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock worth $715,000 after purchasing an additional 3,498 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Newmont by 3.5% during the 3rd quarter. Signaturefd LLC now owns 23,486 shares of the basic materials company’s stock valued at $1,255,000 after purchasing an additional 802 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NEM. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 in the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.2 %

Shares of NYSE:NEM opened at $47.42 on Thursday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $41.33 and a 200 day moving average price of $46.46.

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.