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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares of the company’s stock, valued at $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Monday, June 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $105.32, for a total value of $315,960.00.
• 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 transaction of $330,330.00.

Newmont Price Performance

NYSE:NEM traded up $1.14 during mid-day trading on Monday, hitting $98.18. The company’s stock had a trading volume of 6,281,610 shares, compared to its average volume of 9,421,187. 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 stock has a fifty day moving average of $106.12 and a 200-day moving average of $110.86. The company has a market capitalization of $104.81 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.61 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. As a group, equities analysts forecast that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Institutional Trading of Newmont

Hedge funds and other institutional investors have recently modified their holdings of the stock. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in Newmont in the 1st quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont during the first quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the fourth quarter worth approximately $26,000. Finally, Cornerstone Planning Group LLC boosted its stake in 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 during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEM. BNP Paribas Exane dropped their price objective on Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. Canaccord Genuity Group raised their price target on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. National Bank Financial boosted their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Finally, TD Securities restated a “hold” rating and issued a $129.00 price target on shares of Newmont in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $138.78.

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.