Brighton Jones LLC Sells 974 Shares of Newmont Co. (NYSE:NEM)

Brighton Jones LLC cut its holdings in shares of Newmont Co. (NYSE:NEM) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,099 shares of the basic materials company’s stock after selling 974 shares during the quarter. Brighton Jones LLC’s holdings in Newmont were worth $507,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NEM. LRI Investments LLC bought a new stake in Newmont during the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $27,000. Heritage Wealth Advisors boosted its holdings in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of Newmont in the first quarter valued at $35,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock worth $2,744,700 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NEM shares. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, August 29th. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. BMO Capital Markets upped their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and boosted their target price for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $52.62.

Newmont Stock Performance

Shares of NYSE:NEM opened at $54.47 on Friday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $54.93. The company’s 50 day moving average price is $50.10 and its two-hundred day moving average price is $43.54. The firm has a market cap of $62.81 billion, a PE ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. Equities research analysts predict that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.84%. Newmont’s dividend payout ratio is -37.45%.

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.