Brighton Jones LLC Sells 340 Shares of Newmont Co. (NYSE:NEM)

Brighton Jones LLC reduced its stake in Newmont Co. (NYSE:NEM) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,759 shares of the basic materials company’s stock after selling 340 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after purchasing an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after purchasing an additional 1,289,084 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Newmont by 1.4% during the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after purchasing an additional 109,084 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after purchasing an additional 545,903 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Newmont by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after purchasing an additional 313,736 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock valued at $3,434,640 over the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 1.7 %

NYSE NEM opened at $48.42 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $53.42 and a two-hundred day simple moving average of $46.76. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a market cap of $55.56 billion, a P/E ratio of -22.84, a P/E/G ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts forecast that Newmont Co. will post 3.07 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s dividend payout ratio (DPR) is presently -47.17%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NEM shares. Raymond James increased their price objective on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. Finally, Jefferies Financial Group raised their target price 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. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $54.85.

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.