Newmont Co. (NYSE:NEM) Director Sells $90,785.67 in Stock

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Newmont Price Performance

Shares of NEM traded up $1.38 during trading hours on Wednesday, hitting $43.89. 10,052,465 shares of the company were exchanged, compared to its average volume of 9,748,126. The company has a market cap of $49.46 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.52. The firm’s fifty day moving average is $42.18 and its 200 day moving average is $46.15. Newmont Co. has a fifty-two week low of $33.22 and a fifty-two week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, equities analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NEM shares. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Scotiabank lowered their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Bernstein Bank lifted their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Institutional Investors Weigh In On Newmont

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEM. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Newmont during the third quarter worth about $28,000. McIlrath & Eck LLC lifted 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 acquiring an additional 361 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Newmont during the 3rd quarter valued at approximately $52,000. 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.