Insider Selling: Newmont (NYSE:NEM) CEO Sells $445,692.42 in Stock

Newmont Corporation (NYSE:NEM) CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the completion of the sale, the chief executive officer owned 127,471 shares in the company, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Natascha Viljoen also recently made the following trade(s):

• On Tuesday, September 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The shares were sold at an average price of $123.00, for a total value of $477,486.00.
• On Wednesday, August 5th, Natascha Viljoen sold 7,764 shares of Newmont stock. The stock was sold at an average price of $104.00, for a total value of $807,456.00.

Newmont Price Performance

NYSE:NEM opened at $115.51 on Monday. The business’s 50-day moving average is $118.56 and its 200 day moving average is $109.89. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The company has a market capitalization of $121.72 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.61 and a beta of 0.51. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the business posted $1.43 EPS. On average, equities research analysts forecast that Newmont Corporation will post 9.09 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s payout ratio is currently 13.13%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group decreased their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Citigroup dropped their price target on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Canaccord Genuity Group reduced their price objective on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group decreased their price objective on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $134.26.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts raised Newmont’s price target to $145, implying meaningful potential upside from recent trading levels and reflecting confidence in the company’s gold production and cash-generation outlook. Newmont Price Target Raised to $145.00
• Positive Sentiment: Newmont is being highlighted as one of the gold-mining stocks to watch, which could attract investor interest while gold prices and demand for defensive assets remain supportive. Newmont And 2 Top Gold Mining Stocks To Watch
• Positive Sentiment: Newmont has a strong earnings-surprise record, and analysts expect the company to potentially beat estimates again in its upcoming report. Its latest quarterly results also exceeded consensus EPS expectations, supporting the bullish case. Will Newmont Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Investors are preparing for Newmont’s next earnings release, with attention likely focused on gold prices, production, costs and management’s outlook. What You Need to Know Ahead of Newmont’s Earnings Release
• Negative Sentiment: CEO Natascha Viljoen sold approximately $446,000 of shares, while EVP Peter Toth sold about $344,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, although insider selling can still weigh on sentiment. Newmont Insider Sale Filing
• Negative Sentiment: One recent analysis argued that Newmont’s shares appear priced above the company’s cash-flow outlook, raising concerns that substantial optimism may already be reflected in the valuation. Newmont Stock Looks Priced Above Its Cash Flow Outlook

Hedge Funds Weigh In On Newmont

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Newmont during the second quarter valued at approximately $11,289,753,000. State Street Corp lifted its stake in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after acquiring an additional 480,223 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after acquiring an additional 5,643,496 shares during the period. Bank of New York Mellon Corp boosted its holdings in Newmont by 5.3% during the 1st 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 acquiring an additional 615,461 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Newmont by 2.0% in the 1st 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 acquiring an additional 184,586 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

About Newmont

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.