Confluence Wealth Services Inc. Has $194,000 Stock Position in Newmont Co. (NYSE:NEM)

Confluence Wealth Services Inc. lessened its stake in Newmont Co. (NYSE:NEM) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,218 shares of the basic materials company’s stock after selling 763 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Newmont were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. Sanctuary Advisors LLC acquired a new position in Newmont in the second quarter valued at about $682,000. Czech National Bank grew its position in Newmont by 6.4% in the third quarter. Czech National Bank now owns 233,743 shares of the basic materials company’s stock valued at $12,494,000 after acquiring an additional 14,002 shares during the last quarter. Diversified Trust Co bought a new position in Newmont in the third quarter valued at about $268,000. Atomi Financial Group Inc. grew its position in Newmont by 67.0% in the third quarter. Atomi Financial Group Inc. now owns 16,137 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 6,477 shares during the last quarter. Finally, CWM LLC grew its position in Newmont by 11.2% in the third quarter. CWM LLC now owns 19,111 shares of the basic materials company’s stock valued at $1,021,000 after acquiring an additional 1,930 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $44.93 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The business’s 50 day moving average price is $40.35 and its two-hundred day moving average price is $46.54. The firm has a market cap of $51.14 billion, a PE ratio of -29.56, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52.

Insider Buying and Selling at Newmont

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost 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 represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Bernstein Bank lifted their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, CLSA assumed coverage on Newmont in a report on Friday, November 29th. They set 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.