Strategic Financial Concepts LLC Purchases New Position in Newmont Co. (NYSE:NEM)

Strategic Financial Concepts LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, Holdings Channel reports. The firm purchased 43,622 shares of the basic materials company’s stock, valued at approximately $1,624,000.

Other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC raised its stake in shares of 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 buying an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC acquired a new position in Newmont during the third quarter worth $32,000. HHM Wealth Advisors LLC lifted its holdings in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Finally, McIlrath & Eck LLC grew its position in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

NYSE:NEM opened at $46.61 on Tuesday. The stock has a market capitalization of $53.06 billion, a P/E ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a 50 day moving average price of $41.01 and a 200 day moving average price of $46.48.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction 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. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Raymond James decreased their target price 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 boosted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.37.

Newmont 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.