Harbor Investment Advisory LLC Has $701,000 Stock Position in Newmont Co. (NYSE:NEM)

Harbor Investment Advisory LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,829 shares of the basic materials company’s stock after selling 547 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Newmont were worth $701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its holdings in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Hoese & Co LLP acquired a new stake in Newmont during the 3rd quarter worth approximately $27,000. Prospera Private Wealth LLC bought a new position in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC increased its position in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the 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 completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NEM shares. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Newmont Stock Performance

Shares of NEM opened at $42.40 on Wednesday. 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 50-day moving average of $40.28 and a 200-day moving average of $46.88. The company has a market cap of $48.27 billion, a PE ratio of -27.90, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the firm earned $0.36 EPS. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts forecast that Newmont Co. will post 3.1 earnings per share for the current year.

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.