Newmont Corporation $NEM Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 18.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,899 shares of the basic materials company’s stock after selling 34,987 shares during the period. Newmont makes up approximately 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 25th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Newmont were worth $13,312,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NEM. Brighton Jones LLC boosted its position in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its stake in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Newmont in the second quarter valued at $240,000. Harbour Investments Inc. boosted its stake in shares of Newmont by 2.8% during the 2nd quarter. Harbour Investments Inc. now owns 7,172 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 192 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in Newmont by 115.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 51,201 shares of the basic materials company’s stock worth $2,983,000 after acquiring an additional 27,456 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $125.91 on Tuesday. The stock’s 50 day simple moving average is $110.95 and its 200 day simple moving average is $91.70. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The firm has a market cap of $137.40 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.05 and a beta of 0.40. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NEM shares. BMO Capital Markets upped their price target on shares of Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. The Goldman Sachs Group lifted their target price on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Finally, Canaccord Genuity Group increased their price objective on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Two investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.94.

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.