Brighton Jones LLC Has $1.26 Million Position in Newmont Corporation $NEM

Brighton Jones LLC lifted its position in shares of Newmont Corporation (NYSE:NEM) by 54.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,572 shares of the basic materials company’s stock after buying an additional 7,648 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $1,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of Newmont during the first quarter worth about $26,000. Colonial Trust Advisors boosted its position in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners boosted its position in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC boosted its position in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after buying an additional 347 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NEM. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $86.92.

Newmont Stock Down 6.0%

NEM opened at $78.38 on Tuesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The stock’s fifty day simple moving average is $81.35 and its 200 day simple moving average is $65.88. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $86.09 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.56 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, research analysts expect 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 will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,249 shares of company stock valued at $1,132,065. Insiders own 0.05% of the company’s stock.

Newmont 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.