Newmont (NYSE:NEM) Insider Sells $2,050,011.30 in Stock

Newmont Corporation (NYSE:NEM) insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Newmont Trading Down 4.3%

Shares of NYSE NEM traded down $4.75 during midday trading on Wednesday, hitting $106.29. The stock had a trading volume of 14,713,234 shares, compared to its average volume of 10,006,306. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 1-year low of $42.93 and a 1-year high of $134.88. The company has a market capitalization of $115.63 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.85 and a beta of 0.39. The company has a fifty day moving average price of $118.89 and a 200 day moving average price of $99.20.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The company’s revenue was up 20.6% on a year-over-year basis. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Hedge Funds Weigh In On Newmont

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. grew its stake in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Swiss RE Ltd. purchased a new stake in Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Newmont during the 3rd quarter valued at approximately $27,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Macquarie Infrastructure increased their target price on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Scotiabank raised their target price on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada boosted their price target on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Newmont presently has an average rating of “Buy” and an average target price of $134.15.

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.