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

Brookstone Capital Management bought a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,581 shares of the basic materials company's stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hoese & Co LLP acquired a new stake in Newmont during the third quarter valued at approximately $27,000. Avior Wealth Management LLC grew its position in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in Newmont during the third quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont during the third quarter valued at $32,000. Finally, McIlrath & Eck LLC boosted its stake in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEM. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, November 25th. Veritas raised Newmont to a "strong-buy" rating in a report on Monday, September 30th. CIBC downgraded Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Bernstein Bank boosted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Scotiabank lowered Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $59.00 to $55.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $53.80.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company's stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company's stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 0.2 %

Newmont stock traded up $0.07 during mid-day trading on Friday, hitting $41.72. 7,285,053 shares of the company's stock were exchanged, compared to its average volume of 8,329,923. The firm has a market capitalization of $47.50 billion, a P/E ratio of -27.45, a PEG ratio of 0.31 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company's 50 day simple moving average is $40.29 and its 200-day simple moving average is $46.86. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm's revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. On average, equities analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

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