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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Friday, May 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $110.11, for a total value of $330,330.00.
• On Wednesday, April 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $113.09, for a total value of $339,270.00.
• On Wednesday, March 18th, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $108.00, for a total value of $324,000.00.

Newmont Price Performance

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

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. On average, analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

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

Institutional Trading of Newmont

A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Newmont in the 4th quarter valued at approximately $1,443,128,000. Van ECK Associates Corp grew its stake in shares of Newmont by 23.4% in 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 purchasing an additional 5,643,496 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Newmont by 110.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after purchasing an additional 4,588,018 shares during the period. AQR Capital Management LLC grew its stake in shares of Newmont by 82.5% in the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after purchasing an additional 3,345,543 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research analyst reports. TD Securities reiterated a “hold” rating and set a $129.00 price target on shares of Newmont in a report on Monday, April 27th. BNP Paribas Exane lifted their price target on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Macquarie Infrastructure lifted their price target on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Barclays initiated coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently 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.