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 firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Newmont Stock Performance

Shares of NEM opened at $41.43 on Thursday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $46.90. The company has a market capitalization of $47.17 billion, a price-to-earnings ratio of -27.26, a PEG ratio of 0.35 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.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. On average, sell-side analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday. They issued a “buy” rating and a $47.20 target price for the company. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, CLSA assumed coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.80.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NEM. HB Wealth Management LLC raised its stake in Newmont by 4.9% during the fourth quarter. HB Wealth Management LLC now owns 14,471 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 673 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Newmont during the 4th quarter worth $304,000. Avanza Fonder AB acquired a new position in Newmont in the fourth quarter valued at $4,269,000. Procyon Advisors LLC boosted its holdings in Newmont by 14.1% in the fourth quarter. Procyon Advisors LLC now owns 14,064 shares of the basic materials company’s stock valued at $523,000 after acquiring an additional 1,734 shares during the last quarter. Finally, BFI Infinity Ltd. purchased a new stake in Newmont during the fourth quarter valued at about $596,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

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.