Buffington Mohr McNeal Sells 650 Shares of Newmont Co. (NYSE:NEM)

Buffington Mohr McNeal reduced its stake in Newmont Co. (NYSE:NEM) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,185 shares of the basic materials company’s stock after selling 650 shares during the quarter. Buffington Mohr McNeal’s holdings in Newmont were worth $342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Hoese & Co LLP purchased a new position in shares of Newmont during the 3rd quarter valued at about $27,000. Avior Wealth Management LLC increased its stake in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $32,000. Finally, McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada decreased their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 1.1 %

Shares of NEM opened at $41.58 on Tuesday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a fifty day moving average price of $40.35 and a 200-day moving average price of $46.81. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

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.