Brooklyn Investment Group Has $154,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Brooklyn Investment Group lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 35.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,148 shares of the basic materials company’s stock after selling 2,243 shares during the period. Brooklyn Investment Group’s holdings in Newmont were worth $154,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Merit Financial Group LLC bought a new stake in shares of Newmont in the 4th quarter valued at $304,000. Avanza Fonder AB bought a new stake in Newmont in the fourth quarter valued at $4,269,000. Procyon Advisors LLC raised its holdings in shares of Newmont by 14.1% during the fourth quarter. Procyon Advisors LLC now owns 14,064 shares of the basic materials company’s stock valued at $523,000 after purchasing an additional 1,734 shares during the period. BFI Infinity Ltd. bought a new position in shares of Newmont during the 4th quarter worth about $596,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Newmont by 121.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,175 shares of the basic materials company’s stock valued at $565,000 after buying an additional 8,315 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $41.72 on Friday. The company has a market capitalization of $47.50 billion, a P/E ratio of -27.45, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. The company’s 50-day moving average is $40.29 and its 200 day moving average is $46.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Jefferies Financial Group boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

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.