Brookwood Investment Group LLC Has $1.24 Million Stock Holdings in Newmont Corporation $NEM

Brookwood Investment Group LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 365.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,299 shares of the basic materials company’s stock after purchasing an additional 16,723 shares during the period. Brookwood Investment Group LLC’s holdings in Newmont were worth $1,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Nuveen LLC acquired a new stake in shares of Newmont during the first quarter worth $306,507,000. Pacer Advisors Inc. raised its position in shares of Newmont by 4,203.5% during the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the period. Assenagon Asset Management S.A. raised its position in Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after buying an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after buying an additional 2,206,017 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in Newmont by 2,003.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock valued at $92,119,000 after buying an additional 1,506,010 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stifel Canada raised Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Newmont in a research report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price target on the stock. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, UBS Group upped their price target on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five research 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 stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average price target of $90.59.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NYSE NEM opened at $83.25 on Monday. The business’s 50-day moving average price is $81.17 and its two-hundred day moving average price is $65.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company has a market capitalization of $90.85 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.56 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts anticipate that Newmont Corporation will post 3.45 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, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont’s payout ratio is 15.53%.

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.