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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, September 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $123.00, for a total value of $369,000.00.
• On Monday, August 3rd, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $93.45, for a total value of $280,350.00.

Newmont Trading Up 0.7%

Shares of NEM stock traded up $0.84 during trading hours on Friday, hitting $115.51. 4,015,395 shares of the company were exchanged, compared to its average volume of 8,748,790. The firm has a fifty day moving average of $118.11 and a 200 day moving average of $109.85. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The firm has a market cap of $121.72 billion, a PE ratio of 14.59, a PEG ratio of 1.61 and a beta of 0.52.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the business posted $1.43 earnings per share. Analysts expect that Newmont Corporation will post 9.09 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Analyst Ratings Changes

A number of research analysts have commented on NEM shares. Raymond James Financial restated an “outperform” rating and set a $140.00 price objective on shares of Newmont in a research note on Monday, August 24th. Scotiabank boosted their target price on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Macquarie Infrastructure decreased their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Barclays lowered their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada boosted their price objective on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $134.26.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently made changes to their positions in NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the third quarter worth approximately $28,000. Versant Capital Management Inc acquired a new stake in Newmont in the third quarter valued at $570,000. Confluence Investment Management LLC bought a new position in Newmont during the 3rd quarter valued at $2,353,000. QRG Capital Management Inc. grew its holdings in Newmont by 2.4% during the 2nd quarter. QRG Capital Management Inc. now owns 225,867 shares of the basic materials company’s stock worth $21,096,000 after acquiring an additional 5,312 shares in the last quarter. Finally, State Street Corp increased its position in shares of Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after purchasing an additional 1,565,716 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.