Valicenti Advisory Services Inc. Has $6.27 Million Stock Position in Newmont Co. (NYSE:NEM)

Valicenti Advisory Services Inc. lowered its stake in Newmont Co. (NYSE:NEM) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,431 shares of the basic materials company’s stock after selling 15,931 shares during the quarter. Newmont makes up 1.6% of Valicenti Advisory Services Inc.’s investment portfolio, making the stock its 23rd largest holding. Valicenti Advisory Services Inc.’s holdings in Newmont were worth $6,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NEM. Heathbridge Capital Management Ltd. lifted its position in shares of Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after buying an additional 221 shares in the last quarter. Carmel Capital Partners LLC raised its position in Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares during the period. Finally, Good Life Advisors LLC lifted its stake in Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 229 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 1.2 %

Newmont stock opened at $41.83 on Wednesday. The firm has a market capitalization of $47.63 billion, a PE ratio of -27.56, a PEG ratio of 0.33 and a beta of 0.50. The business’s 50-day simple moving average is $40.30 and its 200-day simple moving average is $46.72. 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 52 week low of $29.42 and a 52 week high of $58.72.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 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 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 $2,082,800. This trade 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 is available through this hyperlink. Also, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 14,498 shares in the company, 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 quarter, insiders have sold 14,077 shares of company stock worth $563,080. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEM shares. Jefferies Financial Group upped their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James cut their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

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.