Brighton Jones LLC Has $507,000 Position in 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 the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,099 shares of the basic materials company’s stock after selling 974 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. grew its stake in shares of Newmont by 43.8% in the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Newmont by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the last quarter. Ruffer LLP increased its stake in shares of Newmont by 190.1% in the fourth quarter. Ruffer LLP now owns 6,100,822 shares of the basic materials company’s stock valued at $252,482,000 after buying an additional 3,997,590 shares during the period. Northern Trust Corp raised its position in shares of Newmont by 25.9% during the fourth quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after acquiring an additional 2,671,774 shares during the last quarter. Finally, Maj Invest Holding A S lifted its stake in shares of Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after acquiring an additional 2,561,823 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction 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 owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock worth $2,744,700 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Jefferies Financial Group lifted their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets upped their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Bank of America lifted their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.62.

Newmont Trading Up 1.8 %

NEM opened at $54.47 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $54.93. The firm has a market capitalization of $62.81 billion, a PE ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company’s 50-day moving average is $50.10 and its 200 day moving average is $43.54.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. As a group, research analysts predict that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

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.