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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 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 value of $315,960.00.
• On Friday, May 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $110.11, for a total value of $330,330.00.

Newmont Price Performance

Newmont stock traded up $1.14 during trading hours on Monday, reaching $98.18. 6,281,610 shares of the stock were exchanged, compared to its average volume of 9,421,187. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The company has a market cap of $104.81 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $106.12 and a two-hundred day moving average of $110.86.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Equities analysts expect that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is presently 13.49%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Stableford Capital II LLC lifted its stake in Newmont by 9.1% during the second quarter. Stableford Capital II LLC now owns 12,966 shares of the basic materials company’s stock worth $1,211,000 after purchasing an additional 1,086 shares during the last quarter. Versant Capital Management Inc boosted its position in Newmont by 3.6% during the second quarter. Versant Capital Management Inc now owns 4,047 shares of the basic materials company’s stock valued at $378,000 after buying an additional 140 shares during the period. Hilltop National Bank boosted its position in Newmont by 1.3% during the second quarter. Hilltop National Bank now owns 13,657 shares of the basic materials company’s stock valued at $1,276,000 after buying an additional 179 shares during the period. CX Institutional increased its holdings in shares of Newmont by 4.5% in the second quarter. CX Institutional now owns 7,060 shares of the basic materials company’s stock worth $659,000 after buying an additional 302 shares during the period. Finally, Confluence Investment Management LLC increased its stake in Newmont by 3.1% in the 2nd quarter. Confluence Investment Management LLC now owns 15,538 shares of the basic materials company’s stock worth $1,451,000 after purchasing an additional 471 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NEM. National Bank Financial raised their target price on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Canadian Imperial Bank of Commerce set a $175.00 price target on shares of Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. The Goldman Sachs Group decreased their price target on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Barclays initiated coverage on shares of Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $138.78.

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.