Bruce R. Brook Sells 2,077 Shares of Newmont Co. (NYSE:NEM) Stock

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Newmont Trading Down 0.1 %

Shares of NEM opened at $44.93 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company’s fifty day moving average price is $40.35 and its 200 day moving average price is $46.54.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Royal Bank of Canada cut their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Finally, Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently made changes to their positions in NEM. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the last quarter. Hoese & Co LLP acquired a new stake in shares of Newmont in the third quarter worth $27,000. Prospera Private Wealth LLC bought a new position in Newmont during the third quarter worth $28,000. Highline Wealth Partners LLC acquired a new position in Newmont during the 3rd quarter valued at $32,000. Finally, McIlrath & Eck LLC boosted its holdings in 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 during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Company 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.