Advisors Asset Management Inc. Sells 4,765 Shares of Newmont Corporation $NEM

Advisors Asset Management Inc. trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 4.4% in the third quarter, Holdings Channel.com reports. The firm owned 103,147 shares of the basic materials company’s stock after selling 4,765 shares during the quarter. Advisors Asset Management Inc.’s holdings in Newmont were worth $8,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. grew its holdings in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares in the last quarter. Concord Wealth Partners increased its holdings in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC increased its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC lifted its stake in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the last quarter. Finally, Caldwell Trust Co bought a new position in Newmont during the second quarter valued at $31,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by company insiders.

Newmont Trading Up 2.5%

NYSE NEM opened at $124.60 on Thursday. Newmont Corporation has a 12 month low of $41.23 and a 12 month high of $134.88. The company has a market capitalization of $135.97 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.40. The firm’s fifty day moving average price is $108.94 and its 200 day moving average price is $90.23. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a research note on Friday, December 5th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. DZ Bank raised Newmont to a “strong-buy” rating in a report on Monday, January 19th. Royal Bank Of Canada lifted their price objective on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.49.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.