Newmont (NYSE:NEM) Director Bruce Brook Sells 2,080 Shares

Newmont Corporation (NYSE:NEM) Director Bruce Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the transaction, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Newmont Price Performance

NYSE NEM opened at $81.61 on Thursday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $89.06 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company has a 50-day moving average price of $82.77 and a two-hundred day moving average price of $67.16.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective on the stock. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $86.92.

Institutional Trading of Newmont

Several large investors have recently modified their holdings of NEM. Knights of Columbus Asset Advisors LLC boosted its stake in Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares during the last quarter. Generate Investment Management Ltd lifted its position in Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after buying an additional 77,865 shares in the last quarter. Banco Santander S.A. increased its position in shares of Newmont by 2,244.4% in the second quarter. Banco Santander S.A. now owns 128,284 shares of the basic materials company’s stock valued at $7,474,000 after acquiring an additional 122,812 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Newmont by 25.0% in the second quarter. Teacher Retirement System of Texas now owns 526,220 shares of the basic materials company’s stock valued at $30,658,000 after acquiring an additional 105,334 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

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.