Pacer Advisors Inc. Boosts Stock Position in Newmont Co. (NYSE:NEM)

Pacer Advisors Inc. grew its position in Newmont Co. (NYSE:NEM) by 46.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 124,935 shares of the basic materials company’s stock after acquiring an additional 39,857 shares during the quarter. Pacer Advisors Inc.’s holdings in Newmont were worth $4,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Creative Planning grew its holdings in Newmont by 35.9% in the second quarter. Creative Planning now owns 104,843 shares of the basic materials company’s stock worth $4,390,000 after purchasing an additional 27,722 shares during the last quarter. Truist Financial Corp grew its stake in Newmont by 8.1% during the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after buying an additional 11,276 shares during the last quarter. Cetera Investment Advisers increased its position in Newmont by 12.1% during the 2nd quarter. Cetera Investment Advisers now owns 230,761 shares of the basic materials company’s stock valued at $9,662,000 after buying an additional 24,867 shares in the last quarter. Dana Investment Advisors Inc. boosted its holdings in Newmont by 24.6% in the second quarter. Dana Investment Advisors Inc. now owns 27,243 shares of the basic materials company’s stock worth $1,141,000 after acquiring an additional 5,377 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Newmont by 21.0% in the second quarter. Clearbridge Investments LLC now owns 40,514 shares of the basic materials company’s stock worth $1,696,000 after acquiring an additional 7,020 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 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 transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by company insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $43.11 on Friday. 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’s 50 day simple moving average is $40.27 and its 200-day simple moving average is $46.69. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a market capitalization of $49.08 billion, a price-to-earnings ratio of -28.36, a PEG ratio of 0.33 and a beta of 0.50.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Jefferies Financial Group raised their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.