Bruce Brook Sells 2,080 Shares of Newmont (NYSE:NEM) Stock

Newmont Corporation (NYSE:NEM) Director Bruce Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the sale, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Newmont Trading Up 0.5%

Shares of NEM opened at $86.86 on Friday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $87.93. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 0.34. The stock’s 50-day moving average price is $74.37 and its 200 day moving average price is $61.17.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s payout ratio is currently 17.95%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NEM shares. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Stifel Nicolaus assumed coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective on the stock. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada upgraded Newmont from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $74.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC boosted its holdings in shares of Newmont by 2.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after acquiring an additional 145 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Newmont by 118.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 9,748 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 5,288 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Newmont by 9.2% in the 3rd quarter. GAMMA Investing LLC now owns 25,477 shares of the basic materials company’s stock worth $2,148,000 after acquiring an additional 2,155 shares in the last quarter. Capital Asset Advisory Services LLC acquired a new position in shares of Newmont in the 3rd quarter worth approximately $213,000. Finally, Praxis Investment Management Inc. boosted its holdings in shares of Newmont by 11.2% in the 3rd quarter. Praxis Investment Management Inc. now owns 38,112 shares of the basic materials company’s stock worth $3,213,000 after acquiring an additional 3,852 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

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.