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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Wednesday, July 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00.
• 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.

Newmont Stock Up 6.9%

Shares of Newmont stock opened at $104.46 on Thursday. Newmont Corporation has a 1-year low of $66.94 and a 1-year high of $134.88. The company has a market capitalization of $110.07 billion, a PE ratio of 13.19, a P/E/G ratio of 1.08 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business has a 50-day moving average of $97.91 and a 200-day moving average of $109.11.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS 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 firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the business posted $1.43 earnings per share. As a group, equities analysts forecast that Newmont Corporation will post 9.06 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is 13.13%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. The Goldman Sachs Group reduced their price objective on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Argus set a $110.00 price objective on shares of Newmont in a report on Monday. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, National Bank Financial cut their target price on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research note 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 issued a Hold rating to the company. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $132.11.

Institutional Investors Weigh In On Newmont

A number of institutional investors have recently made changes to their positions in NEM. Norges Bank bought a new position in Newmont during the 4th quarter worth $1,443,128,000. Van ECK Associates Corp lifted its stake in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after acquiring an additional 4,588,018 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after acquiring an additional 3,345,543 shares during the period. Finally, Assetmark Inc. grew its position in shares of Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after acquiring an additional 2,294,396 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Company Profile

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.