Newmont Co. (NYSE:NEM) Director Bruce R. Brook Sells 2,077 Shares

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Newmont Trading Up 2.6 %

Shares of NEM opened at $40.19 on Wednesday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock’s 50-day moving average is $40.49 and its two-hundred day moving average is $46.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $45.75 billion, a PE ratio of -26.44, a P/E/G ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was up 84.7% on a year-over-year basis. Equities analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Institutional Investors Weigh In On Newmont

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Newmont by 3.7% during the second quarter. American Century Companies Inc. now owns 854,837 shares of the basic materials company’s stock worth $35,792,000 after acquiring an additional 30,685 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Newmont in the second quarter valued at about $27,000. Envestnet Asset Management Inc. grew its stake in Newmont by 129.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock valued at $22,785,000 after purchasing an additional 307,212 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Newmont during the 2nd quarter worth approximately $188,000. Finally, Bruce & Co. Inc. raised its position in shares of Newmont by 52.4% in the 2nd quarter. Bruce & Co. Inc. now owns 100,000 shares of the basic materials company’s stock valued at $4,187,000 after purchasing an additional 34,400 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

About Newmont

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.