Newmont (NYSE:NEM) Trading Down 2.1% – Time to Sell?

Newmont Corporation (NYSE:NEM) traded down 2.1% during mid-day trading on Wednesday . The company traded as low as $99.72 and last traded at $99.76. 5,389,310 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 11,410,947 shares. The stock had previously closed at $101.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NEM shares. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. UBS Group boosted their price objective on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Finally, Argus lifted their price target on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $97.08.

Newmont Trading Down 2.1%

The business has a fifty day moving average price of $90.79 and a two-hundred day moving average price of $78.28. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $108.86 billion, a PE ratio of 15.49, a PEG ratio of 0.69 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s 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 transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,160 shares of company stock worth $767,206 over the last ninety days. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of NEM. Physician Wealth Advisors Inc. lifted its position in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Concord Wealth Partners boosted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the period. JPL Wealth Management LLC bought a new stake in Newmont during the third quarter valued at $27,000. Evermay Wealth Management LLC raised its holdings in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Finally, Capital A Wealth Management LLC lifted its position in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.