Brooklyn Investment Group Sells 2,243 Shares of Newmont Co. (NYSE:NEM)

Brooklyn Investment Group lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 35.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,148 shares of the basic materials company’s stock after selling 2,243 shares during the quarter. Brooklyn Investment Group’s holdings in Newmont were worth $154,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 326 shares during the last quarter. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter worth approximately $27,000. Prospera Private Wealth LLC bought a new stake in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC grew its holdings in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Bernstein Bank increased their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.80.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $41.72 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $47.50 billion, a P/E ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50. The business’s 50 day moving average price is $40.29 and its 200-day moving average price is $46.83. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last released its earnings results 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 during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.40%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Newmont Company 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.