Oppenheimer & Co. Inc. Sells 22,692 Shares of Newmont Corporation $NEM

Oppenheimer & Co. Inc. decreased its position in Newmont Corporation (NYSE:NEM) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,259 shares of the basic materials company’s stock after selling 22,692 shares during the period. Oppenheimer & Co. Inc.’s holdings in Newmont were worth $16,041,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NEM. Brighton Jones LLC grew its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP raised its position in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Newmont during the 2nd quarter valued at about $240,000. Callan Family Office LLC grew its position in shares of Newmont by 252.6% in the 2nd quarter. Callan Family Office LLC now owns 22,132 shares of the basic materials company’s stock valued at $1,289,000 after purchasing an additional 15,856 shares during the period. Finally, Blue Trust Inc. increased its stake in Newmont by 7.7% during the 2nd quarter. Blue Trust Inc. now owns 15,622 shares of the basic materials company’s stock worth $910,000 after purchasing an additional 1,114 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 6.2%

Newmont stock opened at $115.27 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1-year low of $41.23 and a 1-year high of $134.88. The company has a fifty day simple moving average of $107.05 and a 200 day simple moving average of $89.18. The company has a market cap of $125.79 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 0.88 and a beta of 0.40.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. National Bankshares raised their price objective on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Macquarie Infrastructure upped their target price on shares of Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen increased their target price on Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada boosted their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has an average rating of “Buy” and a consensus price target of $124.83.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by insiders.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.