Newmont (NYSE:NEM) Stock: Insider Peter Toth Sells 3,000 Shares

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Thursday, October 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was 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 shares were sold at an average price of $123.00, for a total value of $369,000.00.

Newmont Stock Performance

Shares of NEM stock opened at $118.22 on Thursday. The company’s fifty day moving average price is $119.34 and its 200-day moving average price is $112.44. The stock has a market cap of $122.85 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $80.49 and a 12 month high of $135.29.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period last year, the business earned $1.71 EPS. Newmont’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts expect that Newmont Corporation will post 9.11 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, November 25th. Newmont’s dividend payout ratio is 12.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NEM. BlackRock Inc. purchased a new stake in shares of Newmont during the 2nd quarter valued at about $11,289,753,000. State Street Corp raised its holdings in shares of Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Newmont by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after purchasing an additional 615,461 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Newmont by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock valued at $1,012,792,000 after purchasing an additional 184,586 shares during the period. Finally, Amundi lifted its position in Newmont by 4.4% during the first quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after purchasing an additional 372,415 shares during the period. 68.85% of the stock is owned by institutional investors.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s strong free-cash-flow momentum is supporting investment in growth projects and additional shareholder returns, a potential fundamental tailwind. Article: Can Newmont’s Strong Free Cash Flow Momentum Carry Into Q4?
• Positive Sentiment: Recent quarterly results also provide support: Newmont beat analyst expectations for earnings and revenue, with revenue up year over year. Newmont company information
• Negative Sentiment: Insider-sale reports may weigh modestly on sentiment. EVP Peter Toth sold 3,000 shares, while the reported executive transactions were made under pre-arranged plans; the CEO’s sale was described as covering tax withholding on vested awards, which reduces their significance as a signal about the company’s outlook. Article: Insider Selling: Newmont EVP Sells 3,000 Shares

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group raised their target price on shares of Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. Barclays dropped their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Argus set a $110.00 price target on Newmont and gave the stock a “buy” rating in a research note on Monday, August 3rd. Bank of America raised their price objective on Newmont from $135.00 to $145.00 in a research report on Monday, August 17th. Finally, RBC Dominion Securities set a $155.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.20.

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.