Newmont Co. (NYSE:NEM) Position Trimmed by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,405 shares of the basic materials company’s stock after selling 16,750 shares during the period. Inspire Investing LLC’s holdings in Newmont were worth $4,072,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its stake in Newmont by 288.1% in the 4th quarter. Avior Wealth Management LLC now owns 1,925 shares of the basic materials company’s stock worth $72,000 after purchasing an additional 1,429 shares during the period. Viking Fund Management LLC boosted its stake in Newmont by 42.9% in the 4th quarter. Viking Fund Management LLC now owns 50,000 shares of the basic materials company’s stock worth $1,861,000 after purchasing an additional 15,000 shares during the period. Nisa Investment Advisors LLC boosted its stake in Newmont by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 119,987 shares of the basic materials company’s stock worth $4,466,000 after purchasing an additional 520 shares during the period. Uncommon Cents Investing LLC boosted its stake in Newmont by 89.0% in the 4th quarter. Uncommon Cents Investing LLC now owns 32,655 shares of the basic materials company’s stock worth $1,215,000 after purchasing an additional 15,375 shares during the period. Finally, Strong Tower Advisory Services boosted its stake in Newmont by 14.6% in the 4th quarter. Strong Tower Advisory Services now owns 44,824 shares of the basic materials company’s stock worth $1,668,000 after purchasing an additional 5,724 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

NYSE:NEM opened at $41.64 on Thursday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm’s fifty day simple moving average is $40.31 and its 200 day simple moving average is $46.83. 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 firm has a market capitalization of $47.40 billion, a PE ratio of -27.39, a PEG ratio of 0.34 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Co. will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEM. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group increased their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Insider Activity at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was 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 owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by insiders.

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.