Cetera Trust Company N.A Has $399,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Cetera Trust Company N.A lowered its stake in Newmont Co. (NYSE:NEM) by 18.8% during the fourth quarter, HoldingsChannel reports. The firm owned 10,710 shares of the basic materials company’s stock after selling 2,478 shares during the period. Cetera Trust Company N.A’s holdings in Newmont were worth $399,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Hoese & Co LLP acquired a new position in Newmont in the 3rd quarter valued at approximately $27,000. Avior Wealth Management LLC grew its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the 3rd quarter worth about $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC raised its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 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 value of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 14,077 shares of company stock valued at $563,080. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEM. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Royal Bank of Canada dropped 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 report on Thursday, October 24th. Jefferies Financial Group raised their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. 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 given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Down 1.1 %

NEM opened at $41.88 on Wednesday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock has a market cap of $47.67 billion, a price-to-earnings ratio of -27.54, a PEG ratio of 0.33 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $40.30 and its two-hundred day moving average price is $46.86.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the business earned $0.36 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts expect that Newmont Co. will post 3.1 earnings per share for the current year.

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.