Kestra Private Wealth Services LLC trimmed its holdings in Newmont Co. (NYSE:NEM – Free Report) by 2.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,641 shares of the basic materials company’s stock after selling 411 shares during the period. Kestra Private Wealth Services LLC’s holdings in Newmont were worth $578,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kingsview Wealth Management LLC raised its holdings in Newmont by 15.2% during the third quarter. Kingsview Wealth Management LLC now owns 32,003 shares of the basic materials company’s stock worth $1,183,000 after purchasing an additional 4,219 shares in the last quarter. Advisors Preferred LLC acquired a new position in Newmont during the third quarter worth about $2,813,000. KLCM Advisors Inc. grew its position in Newmont by 6.8% during the third quarter. KLCM Advisors Inc. now owns 410,035 shares of the basic materials company’s stock worth $15,151,000 after buying an additional 26,183 shares during the period. Monaco Asset Management SAM acquired a new position in Newmont during the third quarter worth about $2,845,000. Finally, Metis Global Partners LLC grew its position in Newmont by 13.4% during the third quarter. Metis Global Partners LLC now owns 58,948 shares of the basic materials company’s stock worth $2,178,000 after buying an additional 6,983 shares during the period. 79.53% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Robert D. Atkinson sold 5,500 shares of Newmont stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the completion of the transaction, the chief operating officer now directly owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.
Newmont Stock Down 0.0 %
Analyst Upgrades and Downgrades
NEM has been the topic of several research reports. TD Securities lowered shares of Newmont from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research report on Tuesday, January 9th. UBS Group decreased their target price on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 13th. Raymond James decreased their target price on shares of Newmont from $59.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Macquarie initiated coverage on shares of Newmont in a research report on Tuesday, November 21st. They set an “outperform” rating and a $45.00 target price on the stock. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research report on Wednesday, January 3rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.47.
Newmont Company 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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.
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