Empower Advisory Group LLC Has $67.51 Million Position in Newmont Co. (NYSE:NEM)

Empower Advisory Group LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,813,920 shares of the basic materials company’s stock after purchasing an additional 27,605 shares during the quarter. Empower Advisory Group LLC’s holdings in Newmont were worth $67,514,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in shares of Newmont by 2.3% during the fourth quarter. CIBC Asset Management Inc now owns 245,984 shares of the basic materials company’s stock worth $9,155,000 after acquiring an additional 5,598 shares during the period. Lee Financial Co increased its holdings in Newmont by 1.3% during the 4th quarter. Lee Financial Co now owns 31,744 shares of the basic materials company’s stock worth $1,182,000 after purchasing an additional 407 shares in the last quarter. Hourglass Capital LLC raised its stake in shares of Newmont by 26.6% in the 4th quarter. Hourglass Capital LLC now owns 227,040 shares of the basic materials company’s stock valued at $8,450,000 after purchasing an additional 47,635 shares during the period. Secured Retirement Advisors LLC bought a new stake in shares of Newmont in the fourth quarter valued at about $2,158,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Newmont during the fourth quarter worth about $1,624,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 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 value of $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 in the last quarter. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of NYSE NEM opened at $46.61 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $53.06 billion, a P/E ratio of -30.66, a P/E/G ratio of 0.38 and a beta of 0.52. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a 50 day moving average of $41.01 and a 200-day moving average of $46.48.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NEM shares. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank cut their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.37.

Newmont 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.