Brookstone Capital Management Purchases 7,768 Shares of Newmont Corporation $NEM

Brookstone Capital Management increased its stake in Newmont Corporation (NYSE:NEM) by 173.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,248 shares of the basic materials company’s stock after buying an additional 7,768 shares during the quarter. Brookstone Capital Management’s holdings in Newmont were worth $714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares during the period. Generate Investment Management Ltd raised its holdings in Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 77,865 shares during the period. Bessemer Group Inc. raised its holdings in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after purchasing an additional 1,379 shares during the period. Cypress Capital Group raised its holdings in Newmont by 6.5% in the 2nd quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company’s stock worth $2,828,000 after purchasing an additional 2,959 shares during the period. Finally, Spire Wealth Management raised its holdings in Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 1,309 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares in the company, valued at $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 over the last 90 days. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEM. Citigroup raised their target price on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Raymond James Financial set a $99.00 target price on Newmont and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus began coverage on Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price target on the stock. TD Securities raised their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $90.59.

Newmont Trading Down 6.4%

Shares of Newmont stock opened at $83.25 on Monday. The firm has a market cap of $90.85 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.56 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $81.17 and a 200-day moving average price of $65.67.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be 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 of this dividend is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

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.