Newmont (NYSE:NEM) EVP Sells 3,000 Shares

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Toth also recently made the following trade(s):

• On Wednesday, July 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00.
• On Monday, June 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00.

Newmont Trading Up 6.9%

Shares of NYSE:NEM traded up $6.73 during trading on Wednesday, reaching $104.46. The stock had a trading volume of 9,507,202 shares, compared to its average volume of 9,090,626. The business has a fifty day moving average price of $97.97 and a 200-day moving average price of $109.18. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock has a market cap of $110.07 billion, a P/E ratio of 13.19, a PEG ratio of 1.06 and a beta of 0.47. Newmont Corporation has a fifty-two week low of $66.94 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. As a group, analysts anticipate that Newmont Corporation will post 8.99 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Hedge Funds Weigh In On Newmont

A number of large investors have recently modified their holdings of NEM. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont during the 1st quarter worth about $25,000. Cedar Mountain Advisors LLC acquired a new position in Newmont during the first quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in Newmont during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC grew its stake in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in shares of Newmont in the third quarter worth $27,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NEM. Macquarie Infrastructure lowered their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. Raymond James Financial reduced their target price on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. UBS Group decreased their price target on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada lowered their price target on Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Jefferies Financial Group dropped their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.11.

Newmont Company Profile

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.