Newmont Co. (NYSE:NEM) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC trimmed its position in Newmont Co. (NYSE:NEM) by 47.4% in the first quarter, Holdings Channel.com reports. The fund owned 6,809 shares of the basic materials company’s stock after selling 6,143 shares during the period. Lake Street Advisors Group LLC’s holdings in Newmont were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Newmont by 1,770.8% in the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock valued at $2,635,000 after acquiring an additional 60,261 shares during the period. Mutual Advisors LLC grew its stake in Newmont by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 20,322 shares of the basic materials company’s stock worth $841,000 after buying an additional 495 shares during the last quarter. Raymond James & Associates increased its position in Newmont by 25.0% in the fourth quarter. Raymond James & Associates now owns 663,133 shares of the basic materials company’s stock worth $27,447,000 after buying an additional 132,568 shares during the period. CVA Family Office LLC bought a new stake in Newmont in the fourth quarter valued at $34,000. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Newmont by 18.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 310,852 shares of the basic materials company’s stock valued at $12,866,000 after acquiring an additional 48,122 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 3.4 %

Shares of NEM stock traded down $1.64 during trading hours on Thursday, reaching $46.06. 6,133,444 shares of the stock traded hands, compared to its average volume of 11,295,745. The business has a fifty day moving average price of $43.28 and a 200 day moving average price of $38.68. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $48.97. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $53.11 billion, a PE ratio of -17.26, a PEG ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities research analysts forecast that Newmont Co. will post 2.64 EPS for the current year.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NEM shares. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $50.00 in a research note on Monday, June 17th. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and raised their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Newmont 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, Papua New Guinea, Ecuador, Fiji, and Ghana.