MCF Advisors LLC Decreases Holdings in Newmont Co. (NYSE:NEM)

MCF Advisors LLC decreased its stake in Newmont Co. (NYSE:NEM) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,048 shares of the basic materials company’s stock after selling 785 shares during the period. MCF Advisors LLC’s holdings in Newmont were worth $76,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Uncommon Cents Investing LLC lifted its stake in Newmont by 89.0% in the fourth quarter. Uncommon Cents Investing LLC now owns 32,655 shares of the basic materials company’s stock valued at $1,215,000 after purchasing an additional 15,375 shares during the last quarter. Strong Tower Advisory Services lifted its position in shares of Newmont by 14.6% during the 4th quarter. Strong Tower Advisory Services now owns 44,824 shares of the basic materials company’s stock valued at $1,668,000 after buying an additional 5,724 shares during the last quarter. Systrade AG bought a new position in shares of Newmont during the 4th quarter worth $3,759,000. Ellsworth Advisors LLC increased its holdings in Newmont by 6.1% in the 4th quarter. Ellsworth Advisors LLC now owns 17,205 shares of the basic materials company’s stock worth $640,000 after acquiring an additional 985 shares during the last quarter. Finally, Successful Portfolios LLC raised its stake in Newmont by 5.3% in the 4th quarter. Successful Portfolios LLC now owns 6,221 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 312 shares during the period. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEM. Bernstein Bank lifted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 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 transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 14,077 shares of company stock worth $563,080 over the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $41.64 on Thursday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market cap of $47.40 billion, a P/E ratio of -27.39, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50. The firm’s fifty day moving average price is $40.30 and its 200-day moving average price is $46.86.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts expect that Newmont Co. will post 3.1 earnings per share for the current fiscal year.

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.