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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the transaction, the executive vice president directly owned 31,315 shares in the company, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $114.81, for a total value of $344,430.00.
• On Tuesday, September 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00.

Newmont Stock Performance

Shares of NYSE:NEM traded down $1.61 during trading on Tuesday, hitting $107.48. 4,514,889 shares of the stock traded hands, compared to its average volume of 8,442,008. The company has a market cap of $111.70 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 2.07 and a beta of 0.51. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $120.16 and a two-hundred day moving average price of $112.46. Newmont Corporation has a 52-week low of $78.60 and a 52-week high of $135.29.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the firm posted $1.71 EPS. The business’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts predict that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont’s payout ratio is presently 12.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NEM shares. BNP Paribas Exane boosted their price objective on Newmont from $102.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Scotiabank decreased their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a research note on Tuesday, October 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a report on Monday, August 24th. Citigroup increased their price target on shares of Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Finally, TD Cowen dropped their price objective on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $137.20.

Institutional Investors Weigh In On Newmont

A number of institutional investors have recently added to or reduced their stakes in NEM. BlackRock Inc. purchased a new position in Newmont in the 2nd quarter valued at approximately $11,289,753,000. State Street Corp boosted its stake in shares of Newmont by 3.1% during 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. Van ECK Associates Corp purchased a new stake in Newmont in the 2nd quarter worth approximately $671,197,000. Bank of New York Mellon Corp purchased a new stake in Newmont in the 2nd quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC purchased a new stake in Newmont in the 2nd quarter worth approximately $241,820,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.