Stratos Wealth Partners LTD. Has $518,000 Position in Newmont Co. (NYSE:NEM)

Stratos Wealth Partners LTD. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 53.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,918 shares of the basic materials company’s stock after acquiring an additional 4,852 shares during the period. Stratos Wealth Partners LTD.’s holdings in Newmont were worth $518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Zurich Insurance Group Ltd FI acquired a new stake in shares of Newmont in the 3rd quarter valued at $98,011,000. Nordea Investment Management AB grew its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. FMR LLC raised its stake in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $45.51 on Wednesday. Newmont Co. has a 1 year low of $29.42 and a 1 year 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 stock’s fifty day moving average price is $40.58 and its two-hundred day moving average price is $46.50. The firm has a market cap of $51.81 billion, a PE ratio of -29.94, a PEG ratio of 0.38 and a beta of 0.52.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 over the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank cut their price target 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. Finally, CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $53.37.

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.