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

Key Points

• Director Bruce Brook sold 2,080 shares of Newmont Corporation at an average price of $84.99, resulting in a total transaction of $176,779.20, and a 5.34% decrease in his holdings.
• Newmont recently reported earnings of $1.43 per share for the last quarter, significantly surpassing the consensus estimate of $0.95, with revenue of $5.32 billion, up 20.8% from the previous year.
• The company issued a quarterly dividend of $0.25 per share, which translates to an annualized dividend of $1.00 and a yield of 1.2%.

Newmont Corporation (NYSE:NEM - Get Free Report) Director Bruce Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Newmont Trading Up 0.5%

Shares of NYSE NEM traded up $0.43 during midday trading on Friday, hitting $86.86. The stock had a trading volume of 7,788,547 shares, compared to its average volume of 11,781,980. The company has a fifty day moving average price of $73.95 and a 200 day moving average price of $60.81. The company has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.96 and a beta of 0.34. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $87.93. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company's revenue was up 20.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BNP Paribas lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group increased their price target on shares of Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Macquarie cut Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Newmont in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $73.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after buying an additional 1,306,783 shares during the period. Norges Bank bought a new position in shares of Newmont in the second quarter valued at approximately $919,170,000. Invesco Ltd. increased its stake in shares of Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company's stock valued at $908,152,000 after acquiring an additional 4,839,447 shares during the period. Northern Trust Corp raised its holdings in Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Finally, Amundi lifted its position in Newmont by 2.8% in the first quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares during the period. Institutional investors own 68.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.