Brighton Jones LLC Has $1.26 Million Position in Newmont Corporation $NEM

Brighton Jones LLC boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 54.9% during the second quarter, Holdings Channel.com reports. The fund owned 21,572 shares of the basic materials company’s stock after acquiring an additional 7,648 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $1,257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the period. Northern Trust Corp increased its stake in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after acquiring an additional 191,940 shares during the period. Amundi increased its stake in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares during the period. Invesco Ltd. increased its stake in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after acquiring an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after acquiring an additional 1,201,237 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. UBS Group lifted their price target on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Citigroup lifted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings upgraded Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. Five analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus price target of $86.92.

Newmont Trading Down 6.0%

NYSE NEM opened at $78.38 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a market cap of $86.09 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 0.56 and a beta of 0.34. The business’s fifty day moving average is $81.35 and its 200 day moving average is $65.88.

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

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont’s payout ratio is presently 15.53%.

Insiders Place Their Bets

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by company insiders.

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.