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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the sale, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Wednesday, April 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00.
• On Wednesday, March 18th, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00.

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.39 during midday trading on Monday, hitting $108.23. The stock had a trading volume of 5,627,444 shares, compared to its average volume of 9,978,618. The company has a market capitalization of $115.54 billion, a PE ratio of 14.04, a P/E/G ratio of 1.55 and a beta of 0.43. The stock has a 50 day moving average price of $113.57 and a two-hundred day moving average price of $105.57. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1 year low of $48.27 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities analysts predict that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Institutional Trading of Newmont

Several institutional investors and hedge funds have recently modified their holdings of the business. Center for Financial Planning Inc. lifted its holdings in shares of Newmont by 1,700.0% in the first quarter. Center for Financial Planning Inc. now owns 1,800 shares of the basic materials company’s stock valued at $195,000 after purchasing an additional 1,700 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Newmont by 0.8% in the first quarter. Principal Financial Group Inc. now owns 1,367,337 shares of the basic materials company’s stock valued at $148,014,000 after purchasing an additional 11,403 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Newmont by 15.3% in the first quarter. Chicago Partners Investment Group LLC now owns 15,041 shares of the basic materials company’s stock valued at $1,682,000 after purchasing an additional 1,996 shares in the last quarter. Arbejdsmarkedets Tillaegspension lifted its holdings in shares of Newmont by 3.5% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 255,873 shares of the basic materials company’s stock valued at $27,698,000 after purchasing an additional 8,674 shares in the last quarter. Finally, J. Safra Sarasin Holding AG lifted its holdings in shares of Newmont by 26.0% in the first quarter. J. Safra Sarasin Holding AG now owns 87,289 shares of the basic materials company’s stock valued at $9,377,000 after purchasing an additional 18,037 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on NEM shares. Scotiabank decreased their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. Royal Bank Of Canada boosted their price objective on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Macquarie Infrastructure boosted their price objective on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Citigroup boosted their price objective on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.

About Newmont

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.