Allspring Global Investments Holdings LLC Purchases 39,045 Shares of Newmont Co. (NYSE:NEM)

Allspring Global Investments Holdings LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 8.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 512,789 shares of the basic materials company’s stock after buying an additional 39,045 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Newmont were worth $27,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Hoese & Co LLP bought a new stake in Newmont during the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter valued at approximately $27,000. LRI Investments LLC purchased a new position in shares of Newmont in the first quarter worth $25,000. Heritage Wealth Advisors boosted its position in shares of Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Newmont during the first quarter valued at $35,000. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,000 shares of company stock worth $3,434,640. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.6 %

Shares of NYSE:NEM opened at $57.75 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business has a 50 day simple moving average of $53.43 and a two-hundred day simple moving average of $46.74. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a market capitalization of $66.59 billion, a PE ratio of -21.63, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. On average, equities analysts predict that Newmont Co. will post 3.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and raised their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. BMO Capital Markets raised their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.46.

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.