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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the transaction, the executive vice president directly owned 31,315 shares in the company, valued at $3,383,272.60. This trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $114.81, for a total value of $344,430.00.
• 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 value of $369,000.00.

Newmont Stock Down 1.5%

NEM stock opened at $107.48 on Wednesday. The stock has a market capitalization of $111.70 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.99 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. Newmont Corporation has a 1-year low of $78.60 and a 1-year high of $135.29. The business has a fifty day moving average price of $119.68 and a 200-day moving average price of $112.42.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.26. The firm 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 firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 earnings per share. Equities analysts forecast that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Hedge Funds Weigh In On Newmont

Hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Newmont in the 3rd quarter worth $71,000. Almanack Investment Partners LLC. bought a new stake in Newmont during the third quarter valued at about $545,000. Euro Pacific Asset Management LLC bought a new stake in Newmont during the third quarter valued at about $46,477,000. Carnegie Lake Advisors LLC bought a new stake in Newmont during the third quarter valued at about $172,000. Finally, Abbington Investment Group purchased a new position in shares of Newmont in the third quarter valued at about $1,241,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent research reports. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Canaccord Genuity Group lowered their target price on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Freedom Broker lowered Newmont from a “buy” rating to a “hold” rating and cut their price target for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Argus set a $110.00 price target on Newmont and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.