Valley Wealth Managers Inc. Increases Holdings in Newmont Co. (NYSE:NEM)

Valley Wealth Managers Inc. lifted its position in shares of Newmont Co. (NYSE:NEM) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 333,414 shares of the basic materials company’s stock after purchasing an additional 28,088 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Newmont were worth $12,410,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Newmont during the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC bought a new position in Newmont during the 3rd quarter worth approximately $32,000. HHM Wealth Advisors LLC grew its position in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Finally, McIlrath & Eck LLC grew its position in Newmont by 80.6% during the 3rd 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. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM opened at $46.61 on Tuesday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a fifty day simple moving average of $41.01 and a two-hundred day simple moving average of $46.48. 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 Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’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 $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

About Newmont

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.