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

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Newmont Price Performance

Shares of NEM opened at $41.43 on Thursday. The company has a market capitalization of $47.17 billion, a price-to-earnings ratio of -27.26, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm has a 50-day simple moving average of $40.49 and a 200-day simple moving average of $46.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.41%. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $53.80.

Hedge Funds Weigh In On Newmont

A number of large investors have recently bought and sold shares of NEM. Meeder Asset Management Inc. acquired a new position in shares of Newmont during the second quarter worth about $27,000. Hoese & Co LLP purchased a new stake in Newmont in the 3rd quarter valued at approximately $27,000. Avior Wealth Management LLC boosted its holdings in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Newmont during the 3rd quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Newmont during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.