Brookstone Capital Management Makes New Investment in Newmont Co. (NYSE:NEM)

Brookstone Capital Management bought a new position in Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,581 shares of the basic materials company’s stock, valued at approximately $245,000.

A number of other hedge funds have also added to or reduced their stakes in NEM. Czech National Bank boosted its stake in shares of Newmont by 5.6% during the fourth quarter. Czech National Bank now owns 246,839 shares of the basic materials company’s stock valued at $9,187,000 after purchasing an additional 13,096 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Newmont by 80.1% during the fourth quarter. Hilltop National Bank now owns 25,259 shares of the basic materials company’s stock valued at $940,000 after purchasing an additional 11,234 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Newmont by 22.8% during the fourth quarter. ORG Partners LLC now owns 26,644 shares of the basic materials company’s stock valued at $992,000 after purchasing an additional 4,948 shares in the last quarter. Fortem Financial Group LLC boosted its stake in shares of Newmont by 7.3% during the fourth quarter. Fortem Financial Group LLC now owns 27,967 shares of the basic materials company’s stock valued at $1,041,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Bard Financial Services Inc. boosted its stake in shares of Newmont by 25.4% during the fourth quarter. Bard Financial Services Inc. now owns 86,180 shares of the basic materials company’s stock valued at $3,208,000 after purchasing an additional 17,480 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $59.00 to $55.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Newmont Trading Up 0.2 %

NYSE NEM opened at $41.72 on Friday. The company has a fifty day simple moving average of $40.29 and a two-hundred day simple moving average of $46.83. The stock has a market cap of $47.50 billion, a P/E ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. On average, analysts forecast that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock valued at $563,080 over the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont 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.