Stratos Wealth Advisors LLC Reduces Holdings in Newmont Co. (NYSE:NEM)

Stratos Wealth Advisors LLC lowered its position in shares of Newmont Co. (NYSE:NEM) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,970 shares of the basic materials company’s stock after selling 714 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Newmont were worth $1,153,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NEM. Sanctuary Advisors LLC purchased a new stake in Newmont in the second quarter valued at $682,000. Czech National Bank increased its position in shares of Newmont by 6.4% during the 3rd quarter. Czech National Bank now owns 233,743 shares of the basic materials company’s stock worth $12,494,000 after purchasing an additional 14,002 shares during the last quarter. Diversified Trust Co acquired a new position in Newmont in the third quarter valued at about $268,000. Atomi Financial Group Inc. boosted its stake in Newmont by 67.0% during the third quarter. Atomi Financial Group Inc. now owns 16,137 shares of the basic materials company’s stock worth $863,000 after buying an additional 6,477 shares during the period. Finally, CWM LLC increased its position in shares of Newmont by 11.2% during the third quarter. CWM LLC now owns 19,111 shares of the basic materials company’s stock valued at $1,021,000 after acquiring an additional 1,930 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.44.

Newmont Stock Performance

NYSE:NEM opened at $44.93 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market capitalization of $51.14 billion, a PE ratio of -29.56, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52. The business’s fifty day moving average price is $40.35 and its 200 day moving average price is $46.54.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by insiders.

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