Concord Asset Management LLC VA Lowers Position in Newmont Co. (NYSE:NEM)

Concord Asset Management LLC VA decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,238 shares of the basic materials company’s stock after selling 714 shares during the quarter. Concord Asset Management LLC VA’s holdings in Newmont were worth $232,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC increased 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 worth $27,000 after buying an additional 326 shares during the last quarter. Hoese & Co LLP bought a new position in Newmont in the third quarter valued at $27,000. Prospera Private Wealth LLC purchased a new stake in Newmont during the third quarter valued at about $28,000. Highline Wealth Partners LLC bought a new stake in Newmont during the third quarter worth about $32,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of 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 purchasing an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock valued at $563,080 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.9 %

Shares of NYSE:NEM opened at $42.71 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The firm has a market capitalization of $48.63 billion, a P/E ratio of -28.10, a P/E/G ratio of 0.35 and a beta of 0.50. The stock has a 50 day moving average price of $40.26 and a 200-day moving average price of $46.63.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEM. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. CLSA began 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 assumed coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.44.

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.