Avidian Wealth Enterprises LLC Acquires 554 Shares of Newmont Co. (NYSE:NEM)

Avidian Wealth Enterprises LLC grew its holdings in Newmont Co. (NYSE:NEM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,807 shares of the basic materials company’s stock after acquiring an additional 554 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Newmont were worth $551,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NEM. Geode Capital Management LLC lifted its stake in shares of Newmont by 1.4% in the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after buying an additional 326,243 shares during the last quarter. FMR LLC lifted its stake in shares of Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Ninety One UK Ltd lifted 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 worth $128,649,000 after buying an additional 744,718 shares during the last quarter. Swiss National Bank lifted its stake in shares of Newmont by 0.3% in the third 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 lifted its stake in shares of Newmont by 27.9% in the third quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock worth $135,393,000 after buying an additional 552,698 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In other news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont 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 $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. 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 quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NEM shares. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Stock Up 2.1 %

Shares of NYSE:NEM opened at $47.79 on Friday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a 50 day moving average of $40.76 and a 200-day moving average of $46.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $54.40 billion, a price-to-earnings ratio of -31.44, a P/E/G ratio of 0.38 and a beta of 0.52.

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.