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

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Newmont Price Performance

Shares of NEM stock opened at $41.67 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $47.44 billion, a PE ratio of -27.41, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. The firm has a fifty day simple moving average of $40.43 and a 200-day simple moving average of $46.86.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders 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 yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Institutional Trading of Newmont

A number of large investors have recently added to or reduced their stakes in NEM. Geode Capital Management LLC boosted its position in shares of Newmont by 1.4% in the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after buying an additional 326,243 shares during the period. Legal & General Group Plc raised its holdings in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after purchasing an additional 109,084 shares in the last quarter. FMR LLC boosted its stake in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised 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 worth $197,976,000 after acquiring an additional 1,074,623 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEM. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada reduced their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

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.