Peterson Wealth Services Buys 7,249 Shares of Newmont Corporation $NEM

Peterson Wealth Services grew its stake in shares of Newmont Corporation (NYSE:NEM) by 199.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,892 shares of the basic materials company’s stock after acquiring an additional 7,249 shares during the quarter. Peterson Wealth Services’ holdings in Newmont were worth $918,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its stake in 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 purchasing an additional 139 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Newmont by 26.4% during the third quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock valued at $56,000 after buying an additional 140 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in shares of 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 valued at $566,000 after acquiring an additional 145 shares in the last quarter. Welch Group LLC raised its holdings in Newmont by 1.3% in the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after acquiring an additional 153 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in Newmont by 1.9% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 8,216 shares of the basic materials company’s stock valued at $693,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $112.83 on Tuesday. The company’s 50 day moving average is $105.05 and its 200 day moving average is $87.66. 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 company has a market cap of $123.12 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.86 and a beta of 0.40. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88.

Analyst Ratings Changes

A number of research firms have commented on NEM. Citigroup reissued a “buy” rating on shares of Newmont in a report on Monday, January 12th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. The Goldman Sachs Group boosted 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. UBS Group reaffirmed a “buy” rating and set a $160.00 price target on shares of Newmont in a report on Friday. Finally, National Bankshares boosted their price objective on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Six research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $112.38.

Insider Activity

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