Tandem Financial LLC Makes New $228,000 Investment in Newmont Co. (NYSE:NEM)

Tandem Financial LLC bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, Holdings Channel reports. The firm bought 6,139 shares of the basic materials company’s stock, valued at approximately $228,000.

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

Newmont Stock Down 0.1 %

Shares of NYSE:NEM opened at $44.93 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The firm has a fifty day moving average of $40.35 and a 200 day moving average of $46.54.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEM shares. Bernstein Bank boosted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Newmont Company 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.