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 dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Newmont Price Performance

NYSE NEM opened at $43.93 on Friday. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market capitalization of $49.51 billion, a PE ratio of 14.99, a P/E/G ratio of 0.41 and a beta of 0.52. The company’s 50 day simple moving average is $42.41 and its 200 day simple moving average is $46.12.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Newmont’s dividend payout ratio is presently 34.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Institutional Trading of Newmont

Large investors have recently added to or reduced their stakes in the business. Waverton Investment Management Ltd boosted its holdings in Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares in the last quarter. Finally, Brookstone Capital Management bought a new stake in Newmont during the fourth quarter worth approximately $245,000. 68.85% of the stock is currently owned by institutional investors.

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.