Yousif Capital Management LLC Sells 6,409 Shares of Newmont Co. (NYSE:NEM)

Yousif Capital Management LLC reduced its position in Newmont Co. (NYSE:NEM) by 4.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 154,064 shares of the basic materials company’s stock after selling 6,409 shares during the quarter. Yousif Capital Management LLC’s holdings in Newmont were worth $5,734,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in shares of Newmont by 191.8% during the 3rd 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. Hoese & Co LLP bought a new stake in Newmont during the third quarter valued at $27,000. Prospera Private Wealth LLC purchased a new position in Newmont during the third quarter worth about $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter worth about $32,000. Finally, McIlrath & Eck LLC raised its holdings in shares of Newmont by 80.6% in the 3rd 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 other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 in the last quarter. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NEM. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Newmont Stock Down 0.1 %

Shares of Newmont stock opened at $44.93 on Friday. The company’s 50 day moving average price is $40.35 and its 200-day moving average price is $46.54. 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 stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of -29.56, a P/E/G ratio of 0.36 and a beta of 0.52.

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.