IVC Wealth Advisors LLC Has $472,000 Stock Holdings in Newmont Co. (NYSE:NEM)

IVC Wealth Advisors LLC lowered its holdings in Newmont Co. (NYSE:NEM) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,689 shares of the basic materials company’s stock after selling 282 shares during the period. IVC Wealth Advisors LLC’s holdings in Newmont were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its position in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. Hoese & Co LLP bought a new stake in Newmont in the 3rd quarter valued at $27,000. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont during the 3rd quarter worth about $32,000. Finally, McIlrath & Eck LLC raised its position in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NEM stock opened at $41.91 on Friday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The stock has a market capitalization of $47.72 billion, a PE ratio of -27.57, a PEG ratio of 0.34 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s fifty day moving average is $40.31 and its 200-day moving average is $46.83.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Equities research analysts expect that Newmont Co. will post 3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the topic of several research reports. Scotiabank lowered 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. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Jefferies Financial Group boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. One equities research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.44.

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.