GFS Advisors LLC Buys 2,400 Shares of Newmont Co. (NYSE:NEM)

GFS Advisors LLC grew its stake in Newmont Co. (NYSE:NEM) by 63.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,200 shares of the basic materials company’s stock after buying an additional 2,400 shares during the period. GFS Advisors LLC’s holdings in Newmont were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning raised its holdings in Newmont by 35.9% during the 2nd quarter. Creative Planning now owns 104,843 shares of the basic materials company’s stock worth $4,390,000 after purchasing an additional 27,722 shares during the last quarter. Truist Financial Corp increased its position in shares of Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after buying an additional 11,276 shares during the period. Cetera Investment Advisers raised its stake in Newmont by 12.1% during the second quarter. Cetera Investment Advisers now owns 230,761 shares of the basic materials company’s stock worth $9,662,000 after buying an additional 24,867 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in Newmont by 24.6% in the second quarter. Dana Investment Advisors Inc. now owns 27,243 shares of the basic materials company’s stock valued at $1,141,000 after buying an additional 5,377 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Newmont by 21.0% during the second quarter. Clearbridge Investments LLC now owns 40,514 shares of the basic materials company’s stock valued at $1,696,000 after acquiring an additional 7,020 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Down 0.9 %

NEM stock opened at $42.71 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $40.27 and a two-hundred day simple moving average of $46.66. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock valued at $563,080 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NEM shares. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Royal Bank of Canada lowered their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

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.