Oppenheimer & Co. Inc. Sells 22,692 Shares of Newmont Corporation $NEM

Oppenheimer & Co. Inc. lessened its stake in Newmont Corporation (NYSE:NEM) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,259 shares of the basic materials company’s stock after selling 22,692 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Newmont were worth $16,041,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. lifted its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. Concord Wealth Partners raised its holdings in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC raised its holdings in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Capital A Wealth Management LLC lifted its stake in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the last quarter. Finally, Caldwell Trust Co bought a new position in Newmont during the second quarter worth about $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s 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 transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NEM shares. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. DZ Bank upgraded Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. TD Cowen upped their price objective on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Finally, BNP Paribas Exane lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective on the stock. in a research report on Friday, December 5th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus target price of $124.83.

Newmont Stock Performance

Shares of NYSE NEM opened at $115.27 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market cap of $125.79 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 0.88 and a beta of 0.40. The stock’s fifty day moving average price is $107.05 and its two-hundred day moving average price is $89.18. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88.

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.