Newmont Co. (NYSE:NEM) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 15.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,606 shares of the basic materials company’s stock after acquiring an additional 1,847 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hedges Asset Management LLC grew its position in shares of Newmont by 25.6% in the fourth quarter. Hedges Asset Management LLC now owns 22,450 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 4,571 shares during the last quarter. Secure Asset Management LLC increased its position in Newmont by 14.5% during the fourth quarter. Secure Asset Management LLC now owns 35,678 shares of the basic materials company’s stock worth $1,328,000 after buying an additional 4,522 shares in the last quarter. Donoghue Forlines LLC acquired a new position in shares of Newmont in the fourth quarter worth $1,397,000. Avior Wealth Management LLC lifted its position in shares of Newmont by 288.1% in the fourth quarter. Avior Wealth Management LLC now owns 1,925 shares of the basic materials company’s stock valued at $72,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Viking Fund Management LLC boosted its stake in shares of Newmont by 42.9% during the fourth quarter. Viking Fund Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 15,000 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEM. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’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 transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 14,077 shares of company stock worth $563,080 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM opened at $42.05 on Monday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of -27.66, a PEG ratio of 0.33 and a beta of 0.50. 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 company has a fifty day simple moving average of $40.35 and a 200 day simple moving average of $46.80.

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.