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

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 transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Newmont Stock Performance

Shares of NYSE NEM traded up $1.02 during midday trading on Tuesday, reaching $40.19. 11,363,374 shares of the stock were exchanged, compared to its average volume of 8,537,674. The firm has a market cap of $45.75 billion, a price-to-earnings ratio of -26.44, a PEG ratio of 0.35 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a 50-day simple moving average of $40.61 and a two-hundred day simple moving average of $46.91. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business earned $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors 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 dividend on an annualized basis and a yield of 2.49%. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Ratings Changes

A number of research firms have weighed in on NEM. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday. They issued a “buy” rating and a $47.20 price target on the stock. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Institutional Investors Weigh In On Newmont

A number of institutional investors have recently added to or reduced their stakes in NEM. Zurich Insurance Group Ltd FI acquired a new stake in Newmont in the 3rd quarter valued at $98,011,000. Nordea Investment Management AB grew its stake in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the period. FMR LLC lifted its holdings in Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after purchasing an additional 1,096,905 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Newmont by 29.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after purchasing an additional 1,074,623 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.