Brighton Jones LLC Has $2.46 Million Stock Position in Newmont Corporation $NEM

Brighton Jones LLC raised its stake in Newmont Corporation (NYSE:NEM) by 35.2% during the 3rd quarter, Holdings Channel reports. The fund owned 29,167 shares of the basic materials company’s stock after acquiring an additional 7,595 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $2,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Newmont by 75.7% during the 1st quarter. Wellington Management Group LLP now owns 318,247 shares of the basic materials company’s stock worth $15,365,000 after purchasing an additional 137,137 shares during the last quarter. Summit Financial LLC acquired a new position in Newmont in the 1st quarter valued at $467,000. CW Advisors LLC bought a new position in Newmont during the 1st quarter worth $205,000. Ameriprise Financial Inc. lifted its holdings in shares of Newmont by 49.9% during the first quarter. Ameriprise Financial Inc. now owns 1,347,972 shares of the basic materials company’s stock worth $65,061,000 after buying an additional 448,684 shares in the last quarter. Finally, Compound Planning Inc. boosted its position in shares of Newmont by 44.1% in the first quarter. Compound Planning Inc. now owns 12,923 shares of the basic materials company’s stock valued at $624,000 after acquiring an additional 3,958 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,240 shares of company stock worth $943,985 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

NYSE NEM opened at $104.69 on Tuesday. The firm’s 50 day simple moving average is $89.43 and its 200 day simple moving average is $76.19. The firm has a market capitalization of $114.25 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.70 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $105.68.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEM. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Jefferies Financial Group restated a “buy” rating and set a $120.00 price objective on shares of Newmont in a research note on Sunday, December 7th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $96.37.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.