Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 800 Shares of Newmont Co. (NYSE:NEM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in Newmont Co. (NYSE:NEM) by 35.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,475 shares of the basic materials company’s stock after selling 800 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Newmont were worth $55,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NEM. Avior Wealth Management LLC boosted its holdings in shares of 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. Prospera Private Wealth LLC purchased a new stake in Newmont during the 3rd quarter worth about $28,000. Highline Wealth Partners LLC purchased a new position in Newmont during the 3rd quarter valued at about $32,000. HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the period. Finally, McIlrath & Eck LLC lifted its holdings 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 worth $43,000 after buying an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Newmont stock opened at $44.85 on Monday. The firm has a fifty day simple moving average of $40.47 and a two-hundred day simple moving average of $46.51. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a market capitalization of $51.06 billion, a PE ratio of -29.51, a P/E/G ratio of 0.38 and a beta of 0.52. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent analyst reports. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set 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 assigned a hold rating, eight have given 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 price target of $53.44.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at $2,144,199.77. The trade was a 3.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $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 28,154 shares of company stock valued at $1,166,843. Insiders own 0.06% of the company’s stock.

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.