Bfsg LLC Increases Stake in Newmont Co. by Nearly 48%

Bfsg LLC has significantly increased its investment in Newmont Co. (NYSE:NEM) by 47.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 178,566 shares of the mining company's stock after purchasing an additional 57,690 shares in the last quarter. As of the latest SEC documentation, Bfsg LLC's stake in Newmont has a value of approximately $6,646,000.

Activity Among Other Institutional Investors

Other institutional investors have also been active in modifying their positions in Newmont. For instance, Avior Wealth Management LLC expanded its stake in the third quarter by 191.8%, now owning 496 shares valued at about $27,000 after buying 326 additional shares. Similarly, Prospera Private Wealth LLC acquired a new investment in Newmont with a value nearing $28,000 during the same quarter. Other firms, including Highline Wealth Partners LLC and McIlrath & Eck LLC, made notable increases to their positions as well, indicating a growing interest from institutional investors. Overall, institutional ownership accounts for 68.85% of Newmont's stock.

Insider Transactions at Newmont

On the insider front, there have been important transactions reported. Executive Vice President Peter Toth sold 3,000 shares of the company on January 10th for an average price of $40.00 each, totaling $120,000. After this sale, Toth owns 82,596 shares valued at approximately $3,303,840. Meanwhile, COO Natascha Viljoen also sold 9,000 shares on the same day, generating $360,000 at the same share price. Following this transaction, she possesses 145,967 shares with a value of around $5,838,680. Overall, insiders have sold a total of 28,154 shares of Newmont worth over $1.1 million in the past three months. Insiders currently hold a mere 0.06% of the company's stock.

Analyst Ratings on Newmont

Recent updates from analysts have shown varied opinions about Newmont's performance. CIBC World Markets has downgraded its recommendation from "strong-buy" to "hold." Bernstein Bank raised its price target for Newmont from $55.00 to $58.00, while Raymond James lowered theirs from $62.00 to $59.00. UBS Group has also cut its rating from "buy" to "neutral" and reduced its price target significantly. Overall, the stock has received mixed reviews, with one analyst issuing a sell rating, eight issuing hold ratings, eight recommending a buy, and two giving a strong buy assessment. This leads to an average rating of "Moderate Buy" with a target price of $53.37 according to MarketBeat data.

Newmont's Market Performance

Newmont's stock was trading at $46.61 recently. Over the past year, the stock reached a low of $29.42 and a peak of $58.72. Financial ratios indicate healthy metrics, including a debt-to-equity ratio of 0.30 and a current ratio of 1.96. The 50-day simple moving average is $41.01 while the 200-day average stands at $46.48.

About Newmont Corporation

Newmont Corporation is primarily engaged in gold production and exploration, but it also holds interests in other minerals such as copper, silver, zinc, and lead. The company operates in various regions worldwide, including the United States, Canada, Peru, and Australia, showcasing a well-diversified geographical footprint.

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