Janney Montgomery Scott LLC Acquires 26,599 Shares of Newmont Co. (NYSE:NEM)

Janney Montgomery Scott LLC boosted its holdings in Newmont Co. (NYSE:NEMFree Report) by 22.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,639 shares of the basic materials company’s stock after buying an additional 26,599 shares during the period. Janney Montgomery Scott LLC’s holdings in Newmont were worth $5,382,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Newmont by 66.6% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 32,609 shares of the basic materials company’s stock valued at $1,391,000 after buying an additional 13,038 shares during the period. Wintrust Investments LLC increased its stake in Newmont by 5.9% in the second quarter. Wintrust Investments LLC now owns 31,297 shares of the basic materials company’s stock valued at $1,335,000 after purchasing an additional 1,738 shares in the last quarter. Private Trust Co. NA increased its stake in Newmont by 62.5% in the second quarter. Private Trust Co. NA now owns 1,233 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 474 shares in the last quarter. MONECO Advisors LLC increased its stake in Newmont by 3.5% in the second quarter. MONECO Advisors LLC now owns 13,937 shares of the basic materials company’s stock valued at $595,000 after purchasing an additional 473 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its stake in Newmont by 117.8% in the second quarter. Archford Capital Strategies LLC now owns 10,347 shares of the basic materials company’s stock valued at $447,000 after purchasing an additional 5,597 shares in the last quarter. 79.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NEM shares. BMO Capital Markets lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, January 17th. Macquarie started coverage on shares of Newmont in a research note on Tuesday, November 21st. They issued an “outperform” rating and a $45.00 target price for the company. Royal Bank of Canada lowered their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Raymond James lowered their target price on shares of Newmont from $59.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. Finally, UBS Group lowered their price objective on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, December 13th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $54.76.

View Our Latest Research Report on Newmont

Newmont Stock Up 2.3 %

Shares of NEM stock opened at $33.56 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. Newmont Co. has a 1 year low of $32.54 and a 1 year high of $52.76. The firm’s fifty day moving average price is $37.88 and its two-hundred day moving average price is $38.38. The firm has a market capitalization of $26.67 billion, a P/E ratio of -32.58, a PEG ratio of 2.42 and a beta of 0.52.

Newmont Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEMFree Report).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.