Newmont Corporation $NEM Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co decreased its stake in Newmont Corporation (NYSE:NEM) by 18.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 157,899 shares of the basic materials company’s stock after selling 34,987 shares during the period. Newmont comprises 1.2% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 25th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Newmont were worth $13,312,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Newmont in the 2nd quarter worth about $240,000. Harbour Investments Inc. lifted its position in Newmont by 2.8% in the 2nd quarter. Harbour Investments Inc. now owns 7,172 shares of the basic materials company’s stock valued at $418,000 after purchasing an additional 192 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Newmont by 115.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 51,201 shares of the basic materials company’s stock valued at $2,983,000 after purchasing an additional 27,456 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $125.91 on Tuesday. Newmont Corporation has a 12 month low of $41.23 and a 12 month high of $134.88. The firm has a market capitalization of $137.40 billion, a PE ratio of 19.55, a P/E/G ratio of 1.05 and a beta of 0.40. The company’s 50 day simple moving average is $110.95 and its 200 day simple moving average is $91.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. Jefferies Financial Group upped their target price on shares of Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Macquarie Infrastructure increased their price objective on Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, National Bank Financial boosted their price target on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.94.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.