Newmont Co. (NYSE:NEM) Stock Holdings Cut by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its position in shares of Newmont Co. (NYSE:NEMFree Report) by 13.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,380 shares of the basic materials company’s stock after selling 5,080 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Newmont were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Wealth Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth $25,000. Stone House Investment Management LLC raised its holdings in shares of Newmont by 1,241.3% during the second quarter. Stone House Investment Management LLC now owns 617 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 571 shares in the last quarter. Quarry LP raised its holdings in shares of Newmont by 1,462.5% during the first quarter. Quarry LP now owns 625 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 585 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Newmont during the second quarter worth $28,000. Finally, TFC Financial Management Inc. raised its holdings in shares of Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares in the last quarter. 79.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $40.25, for a total value of $221,375.00. Following the sale, the chief operating officer now directly owns 59,751 shares in the company, valued at approximately $2,404,977.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEM. Macquarie began coverage on Newmont in a report on Tuesday, November 21st. They set an “outperform” rating and a $45.00 target price on the stock. BMO Capital Markets cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, January 17th. UBS Group cut their target price on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. TD Securities lowered Newmont from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a report on Tuesday, January 9th. Finally, Royal Bank of Canada cut their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.76.

Check Out Our Latest Report on Newmont

Newmont Price Performance

Shares of NEM opened at $32.79 on Friday. Newmont Co. has a 12-month low of $32.54 and a 12-month high of $52.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.12. The stock’s 50-day moving average price is $38.02 and its 200 day moving average price is $38.47.

Newmont Company Profile

(Free Report)

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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.

See Also

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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