Brookwood Investment Group LLC Has $672,000 Stock Holdings in Newmont Corporation $NEM

Brookwood Investment Group LLC reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 62.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,969 shares of the basic materials company’s stock after selling 13,330 shares during the quarter. Brookwood Investment Group LLC’s holdings in Newmont were worth $672,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in Newmont by 176.4% during the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after purchasing an additional 285,897 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares during the last quarter. Generate Investment Management Ltd boosted its stake in shares of Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after buying an additional 77,865 shares during the last quarter. Midwest Trust Co purchased a new position in shares of Newmont in the 2nd quarter worth approximately $4,424,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Newmont by 73.3% in the third quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock valued at $2,534,000 after acquiring an additional 12,717 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 1.4%

Shares of Newmont stock opened at $101.23 on Friday. The stock has a market capitalization of $110.46 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.61 and a beta of 0.41. Newmont Corporation has a 52-week low of $37.68 and a 52-week high of $106.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock’s 50-day simple moving average is $91.62 and its 200 day simple moving average is $79.02.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm 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 quarter last year, the company earned $0.81 earnings per share. As a group, research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. TD Securities lifted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. 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 price objective on shares of Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Finally, CIBC set a $112.00 target price on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Buy” and an average target price of $97.08.

About Newmont

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.