abrdn plc Has $58.58 Million Position in Newmont Co. (NYSE:NEM)

abrdn plc cut its holdings in Newmont Co. (NYSE:NEM) by 9.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,581,417 shares of the basic materials company’s stock after selling 157,324 shares during the quarter. abrdn plc’s holdings in Newmont were worth $58,576,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. S.A. Mason LLC boosted its holdings in shares of Newmont by 97.5% in the fourth quarter. S.A. Mason LLC now owns 5,845 shares of the basic materials company’s stock valued at $218,000 after buying an additional 2,885 shares during the period. JB Capital LLC boosted its stake in Newmont by 21.4% in the 4th quarter. JB Capital LLC now owns 91,097 shares of the basic materials company’s stock worth $3,391,000 after purchasing an additional 16,071 shares during the period. HHM Wealth Advisors LLC increased its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Newmont by 51.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 426,524 shares of the basic materials company’s stock valued at $15,875,000 after purchasing an additional 144,699 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Newmont by 6.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,842 shares of the basic materials company’s stock valued at $1,297,000 after purchasing an additional 1,999 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 0.6 %

NEM opened at $43.37 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $40.27 and its 200 day simple moving average is $46.58. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The stock has a market cap of $49.37 billion, a PE ratio of -28.53, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NEM. CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James reduced their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.44.

About Newmont

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.