Natascha Viljoen Sells 3,882 Shares of Newmont (NYSE:NEM) Stock

Newmont Corporation (NYSE:NEM) CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Newmont Stock Up 0.9%

Newmont stock opened at $108.46 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88. The company has a market cap of $115.79 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.78 and a beta of 0.42. The stock’s 50 day moving average price is $111.74 and its 200 day moving average price is $109.62.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

Institutional Trading of Newmont

Large investors have recently made changes to their positions in the stock. Apella Capital LLC boosted its position in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC boosted its position in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after acquiring an additional 88 shares during the last quarter. Novem Group raised its holdings in shares of Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 88 shares during the period. Norden Group LLC raised its holdings in shares of Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. National Bank Financial boosted their target price on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a research report on Monday. Finally, TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.07.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Record gold prices are putting Newmont back in focus, reinforcing the stock’s appeal as a major gold producer and potential beneficiary of sustained strength in bullion. Record Gold Prices Put Newmont Back In Market Focus
• Positive Sentiment: RBC Capital maintained an outperform rating on Newmont despite lowering its price target to $140, signaling continued confidence in upside from current levels. RBC price target update
• Positive Sentiment: Recent bullish research also highlighted Newmont’s strong free cash flow, solid liquidity, and the company’s $6 billion buyback authorization as supportive long-term fundamentals. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Neutral Sentiment: Insider selling by CEO Natascha Viljoen and EVP Peter Toth was disclosed, but both trades were made under pre-arranged Rule 10b5-1 plans, which makes them less likely to signal a negative change in outlook.
• Neutral Sentiment: Some recent articles suggest Newmont may be trading near fair value after its sharp multi-month rally, so investors are weighing whether most of the near-term upside is already priced in. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: One market note warned that after a roughly 96% one-year surge, Newmont could face limited additional upside if gold prices or mining sentiment cool off. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

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.