Newmont (NYSE:NEM) Stock: Insider Natascha Viljoen Sells 3,882 Shares

Newmont Corporation (NYSE:NEM) CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $419,411.28. Following the sale, the chief executive officer directly owned 101,691 shares in the company, valued at approximately $10,986,695.64. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, October 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The shares were sold at an average price of $114.81, for a total value of $445,692.42.
• On Tuesday, September 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The stock was sold at an average price of $123.00, for a total transaction 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 transaction of $807,456.00.

Newmont Price Performance

Newmont stock traded down $1.61 during trading hours on Tuesday, reaching $107.48. 4,514,889 shares of the stock were exchanged, compared to its average volume of 8,442,008. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $78.60 and a twelve month high of $135.29. The company has a market cap of $111.70 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. The stock has a 50 day moving average of $120.16 and a two-hundred day moving average of $112.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.71 EPS. Equities analysts expect that Newmont Corporation will post 9.11 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is presently 12.09%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Newmont in the second quarter valued at approximately $11,289,753,000. State Street Corp raised its holdings in Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after buying an additional 1,565,716 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Newmont during the 2nd quarter worth approximately $671,197,000. Bank of New York Mellon Corp acquired a new stake in Newmont during the 2nd quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new stake in Newmont during the 2nd quarter worth approximately $241,820,000. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEM has been the topic of several recent analyst reports. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Scotiabank reduced their price objective on Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. BNP Paribas Exane lifted their target price on Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. RBC Dominion Securities set a $155.00 target price on Newmont and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Finally, Canaccord Genuity Group dropped their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

Newmont Company Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.