Core Alternative Capital Buys 9,339 Shares of Newmont Co. (NYSE:NEM)

Core Alternative Capital raised its stake in Newmont Co. (NYSE:NEM) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,621 shares of the basic materials company’s stock after buying an additional 9,339 shares during the period. Core Alternative Capital’s holdings in Newmont were worth $3,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Savant Capital LLC raised its holdings in Newmont by 29.6% during the 4th quarter. Savant Capital LLC now owns 14,411 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 3,292 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Newmont by 5.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 40,429 shares of the basic materials company’s stock worth $1,505,000 after buying an additional 1,925 shares during the period. Robinson Value Management Ltd. raised its stake in Newmont by 1.2% during the fourth quarter. Robinson Value Management Ltd. now owns 110,050 shares of the basic materials company’s stock worth $4,096,000 after buying an additional 1,253 shares during the last quarter. Entropy Technologies LP acquired a new position in Newmont in the fourth quarter valued at $290,000. Finally, Empowered Funds LLC boosted its position in Newmont by 262.0% during the fourth quarter. Empowered Funds LLC now owns 312,371 shares of the basic materials company’s stock valued at $11,626,000 after acquiring an additional 226,086 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by company insiders.

Newmont Price Performance

Shares of NEM opened at $46.44 on Tuesday. The stock has a 50 day moving average of $40.47 and a 200 day moving average of $46.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

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.