Newmont (NYSE:NEM) EVP Sells $369,000.00 in Stock

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total value of $369,000.00. Following the transaction, the executive vice president directly owned 37,315 shares of the company’s stock, valued at approximately $4,589,745. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 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 transaction of $280,350.00.
• On Wednesday, July 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $92.38, for a total value of $277,140.00.

Newmont Stock Performance

NYSE NEM traded up $5.43 during trading on Thursday, reaching $130.59. The company’s stock had a trading volume of 7,735,901 shares, compared to its average volume of 9,000,779. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm has a market cap of $137.60 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.73 and a beta of 0.52. The business’s fifty day moving average price is $105.83 and its 200-day moving average price is $109.56. Newmont Corporation has a twelve month low of $73.44 and a twelve month high of $135.29.

Newmont (NYSE:NEM) last released its 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. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the business earned $1.43 EPS. As a group, analysts anticipate that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEM. Pinnacle Bancorp Inc. acquired a new position in shares of Newmont in the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont in the first quarter worth approximately $25,000. Clearstead Trust LLC purchased a new position in shares of Newmont during the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new stake in shares of Newmont during the 2nd quarter worth about $26,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Newmont in the 4th quarter valued at $26,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NEM. Canadian Imperial Bank of Commerce set a $170.00 target price on Newmont in a research note on Friday, August 14th. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Jefferies Financial Group lowered their price objective on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Scotiabank increased their target price on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.73.

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.