Silverlake Wealth Management LLC Sells 578 Shares of Newmont Co. (NYSE:NEM)

Silverlake Wealth Management LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 17,177 shares of the basic materials company’s stock after selling 578 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Newmont were worth $639,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after acquiring an additional 326,243 shares during the period. FMR LLC raised its position in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Newmont by 27.5% in the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after buying an additional 744,718 shares during the period. Swiss National Bank boosted its holdings in shares of Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after buying an additional 9,500 shares during the last quarter. Finally, National Pension Service grew its holdings in Newmont by 27.9% during the third quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after purchasing an additional 552,698 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on NEM. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. 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. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.44.

Newmont Price Performance

Shares of NEM stock opened at $43.37 on Wednesday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a 50-day moving average price of $40.27 and a 200 day moving average price of $46.58. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Insider Activity

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

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.