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

Newmont Corporation (NYSE:NEM) Director Bruce Brook sold 2,080 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Newmont Trading Up 0.5%

Shares of NEM opened at $86.86 on Friday. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $87.93. The company has a market cap of $95.41 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.96 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $74.37 and its 200-day simple moving average is $61.08.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio is presently 17.95%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Royal Bank Of Canada upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $66.00 to $95.00 in a report on Wednesday, September 10th. UBS Group increased their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 19th. The Goldman Sachs Group increased their target price on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Raymond James Financial increased their target price on shares of Newmont from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Finally, Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Institutional Trading of Newmont

A number of institutional investors have recently modified their holdings of NEM. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares in the last quarter. NBC Securities Inc. boosted its holdings in shares of Newmont by 108,025.0% in the 1st quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company’s stock valued at $208,000 after buying an additional 4,321 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Newmont by 107.8% in the 1st quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company’s stock valued at $821,000 after buying an additional 8,817 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of Newmont in the 1st quarter valued at about $1,019,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Newmont by 7.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 16,264 shares of the basic materials company’s stock valued at $785,000 after buying an additional 1,089 shares in the last quarter. 68.85% of the stock is currently owned by 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.