Insider Selling: Newmont (NYSE:NEM) EVP Sells $344,430.00 in Stock

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Toth also recently made the following trade(s):

• On Tuesday, September 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00.
• On Monday, August 3rd, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00.

Newmont Stock Performance

NYSE NEM traded up $0.84 during trading hours on Friday, hitting $115.51. 4,015,395 shares of the stock were exchanged, compared to its average volume of 8,748,790. The company has a market cap of $121.72 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.61 and a beta of 0.52. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29. The stock has a 50-day moving average of $118.11 and a 200 day moving average of $109.85. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the company earned $1.43 EPS. As a group, equities research analysts forecast that Newmont Corporation will post 9.09 earnings per share for the current year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. The Goldman Sachs Group lowered 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. UBS Group lowered their price target on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. National Bank Financial raised their price objective on Newmont from $120.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, September 21st. TD boosted their target price on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.26.

Institutional Investors Weigh In On Newmont

A number of large investors have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont in the first quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new stake in Newmont during the 1st quarter worth about $25,000. GoalVest Advisory LLC acquired a new position in Newmont in the 3rd quarter valued at about $28,000. Clearstead Trust LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $25,000. Finally, Kilter Group LLC purchased a new stake in shares of Newmont during the second quarter worth about $26,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.