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 stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This represents a 3.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Newmont Stock Performance

Shares of NEM stock opened at $44.98 on Thursday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock’s fifty day simple moving average is $40.29 and its 200 day simple moving average is $46.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NEM. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Institutional Trading of Newmont

A number of hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC raised 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 buying an additional 326 shares during the last quarter. Hoese & Co LLP acquired a new position in Newmont in the 3rd quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new position in shares of Newmont during the third quarter valued at $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont during the third quarter worth $32,000. Finally, McIlrath & Eck LLC grew its stake 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. 68.85% of the stock is owned by institutional investors and hedge funds.

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.