Insider Selling: Newmont (NYSE:NEM) EVP Sells $277,140.00 in Stock

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of Newmont 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 sale, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This trade represents a 6.48% decrease in their position. The sale was disclosed in a document filed 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 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 transaction of $315,960.00.
• On Friday, May 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00.

Newmont Price Performance

NEM stock opened at $93.20 on Thursday. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The company’s fifty day moving average price is $104.89 and its 200-day moving average price is $110.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $99.50 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.58 and a beta of 0.46.

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, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NEM shares. BMO Capital Markets dropped their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Canaccord Genuity Group upped their price objective on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Barclays initiated coverage on Newmont in a research report on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price for the company. National Bank Financial boosted their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.78.

Hedge Funds Weigh In On Newmont

Several large investors have recently modified their holdings of the stock. GoalVest Advisory LLC purchased a new position in Newmont during the fourth quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the 1st quarter worth about $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the 4th quarter worth about $26,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont could benefit if gold’s recent rebound continues, since the company’s earnings are closely tied to precious-metals prices and improved gold momentum typically supports the stock. Can Newmont (NYSE:NEM) Ride Gold’s Rebound?
• Positive Sentiment: Recent coverage says Newmont is gaining as gold momentum builds, reinforcing the view that stronger bullion prices could boost revenue and margins for the miner. Newmont (NYSE:NEM) Gains As Gold Momentum Builds Today
• Positive Sentiment: Newmont welcomed Canada’s CA$500 million funding for the Red Chris Block Cave project, which strengthens the economics of a major development asset and supports longer-term growth prospects. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: Jefferies reiterated a Buy stance on Newmont and assigned a new $146 price target, indicating analysts still see meaningful upside from current levels. Newmont (NYSE:NEM) Given New $146.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Newmont recently outperformed the broader market in a prior session, showing that investor interest in the gold miner remains strong even amid volatility. Newmont Corporation (NEM) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still pressure sentiment because insider selling is often viewed cautiously by investors. Newmont (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of Stock
• Negative Sentiment: Some recent commentary argues Newmont remains overvalued on a fundamental basis, and GF Value said the shares are still above fair value, which may weigh on buyer enthusiasm. Newmont Corp (NEM) Shares Fall 3.2% — GF Value Says Still Overvalued

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.