Newmont Corporation $NEM Shares Acquired by Cypress Capital Group

Cypress Capital Group lifted its stake in Newmont Corporation (NYSE:NEM) by 10.8% in the 3rd quarter, Holdings Channel reports. The firm owned 53,774 shares of the basic materials company’s stock after purchasing an additional 5,225 shares during the quarter. Cypress Capital Group’s holdings in Newmont were worth $4,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the period. HHM Wealth Advisors LLC increased its stake in Newmont by 26.4% in the 3rd quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 140 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its holdings in Newmont by 2.3% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares during the last quarter. Welch Group LLC raised its holdings in Newmont by 1.3% during the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after purchasing an additional 153 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in Newmont by 3.8% during the third quarter. Resonant Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock worth $371,000 after purchasing an additional 163 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research analyst reports. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Scotiabank raised their target price on shares of Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a report on Monday. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Finally, BNP Paribas Exane cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective for the company. in a research note on Friday, December 5th. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $105.88.

Newmont Stock Down 3.8%

Shares of NYSE:NEM opened at $127.00 on Friday. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The stock’s 50-day moving average price is $103.95 and its two-hundred day moving average price is $86.50. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a market cap of $138.59 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.01 and a beta of 0.41.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director 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 SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by insiders.

About Newmont

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.