Brookwood Investment Group LLC Invests $221,000 in Newmont Corporation (NYSE:NEM)

Key Points

• Brookwood Investment Group LLC recently invested approximately $221,000 in Newmont Corporation, acquiring 4,576 shares during the first quarter.
• Newmont reported strong quarterly earnings, with earnings per share of $1.43, significantly exceeding analysts' expectations of $0.95, and revenue of $5.32 billion compared to estimates of $4.70 billion.
• The company has declared a quarterly dividend of $0.25 per share, translating to an annualized dividend yield of 1.52%, with the ex-dividend date set for September 4th.

Brookwood Investment Group LLC purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,576 shares of the basic materials company's stock, valued at approximately $221,000.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Korea Investment CORP raised its holdings in shares of Newmont by 76.7% in the fourth quarter. Korea Investment CORP now owns 999,815 shares of the basic materials company's stock worth $37,213,000 after acquiring an additional 433,994 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Newmont by 6.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,816,370 shares of the basic materials company's stock worth $69,222,000 after acquiring an additional 105,538 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of Newmont by 36.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 92,150 shares of the basic materials company's stock worth $3,430,000 after acquiring an additional 24,593 shares during the last quarter. Finally, NEOS Investment Management LLC raised its holdings in shares of Newmont by 31.2% in the fourth quarter. NEOS Investment Management LLC now owns 67,960 shares of the basic materials company's stock worth $2,529,000 after acquiring an additional 16,174 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEM. Scotiabank boosted their price target on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Raymond James Financial boosted their price target on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, UBS Group upped their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Newmont Stock Performance

Shares of Newmont stock traded down $0.63 on Wednesday, reaching $63.36. 2,428,081 shares of the company were exchanged, compared to its average volume of 12,153,298. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company's 50-day moving average is $57.54 and its two-hundred day moving average is $50.89. The firm has a market cap of $69.60 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.91 and a beta of 0.33. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $66.57.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the prior year, the firm earned $0.72 EPS. The business's quarterly revenue was up 20.8% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is currently 17.95%.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is currently owned by corporate insiders.

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.