Brookstone Capital Management Purchases New Shares in Newmont Co. (NYSE:NEM)

Brookstone Capital Management purchased a new stake in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, HoldingsChannel reports. The firm purchased 6,581 shares of the basic materials company’s stock, valued at approximately $245,000.

Several other institutional investors have also modified their holdings of NEM. Envestnet Asset Management Inc. grew its position in shares of Newmont by 129.6% in the second quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock valued at $22,785,000 after purchasing an additional 307,212 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Newmont by 10.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 30,687 shares of the basic materials company’s stock valued at $1,285,000 after purchasing an additional 2,888 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Newmont by 21.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,513 shares of the basic materials company’s stock valued at $2,728,000 after purchasing an additional 11,358 shares during the period. Waters Parkerson & CO. LLC acquired a new stake in shares of Newmont in the second quarter valued at about $255,000. Finally, AE Wealth Management LLC grew its position in shares of Newmont by 12.7% in the second quarter. AE Wealth Management LLC now owns 214,913 shares of the basic materials company’s stock valued at $8,998,000 after purchasing an additional 24,164 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Jefferies Financial Group boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.80.

Newmont Price Performance

Newmont stock opened at $41.72 on Friday. The company’s 50 day simple moving average is $40.29 and its 200-day simple moving average is $46.83. The company has a market capitalization of $47.50 billion, a price-to-earnings ratio of -27.45, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

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

Newmont Announces Dividend

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

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.