Insider Selling: Newmont (NYSE:NEM) EVP Sells $324,120.00 in 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 stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the transaction, the executive vice president directly owned 31,315 shares of the company’s stock, valued at $3,383,272.60. This trade represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 shares were 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 shares were sold at an average price of $123.00, for a total value of $369,000.00.

Newmont Trading Down 1.5%

Shares of Newmont stock traded down $1.61 during trading hours on Tuesday, reaching $107.48. The stock had a trading volume of 4,514,889 shares, compared to its average volume of 8,442,008. The firm has a market capitalization of $111.70 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 2.07 and a beta of 0.51. Newmont Corporation has a 1 year low of $78.60 and a 1 year high of $135.29. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $120.16 and a two-hundred day simple moving average of $112.46.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 EPS. As a group, equities research analysts anticipate that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Announces Dividend

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

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently made changes to their positions in NEM. Accel Wealth Management increased its holdings in shares of Newmont by 0.8% in the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after acquiring an additional 115 shares during the period. Compound Planning Inc. increased its stake in shares of Newmont by 0.6% in the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock valued at $2,294,000 after purchasing an additional 121 shares during the period. Center for Financial Planning Inc. raised its holdings in shares of Newmont by 6.7% during the third quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company’s stock valued at $222,000 after buying an additional 121 shares during the last quarter. Zhang Financial LLC raised its holdings in shares of Newmont by 0.8% during the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock valued at $1,707,000 after buying an additional 124 shares during the last quarter. Finally, Heartland Bank & Trust Co boosted its position in shares of Newmont by 3.0% during the first quarter. Heartland Bank & Trust Co now owns 4,331 shares of the basic materials company’s stock worth $469,000 after buying an additional 127 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on NEM shares. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Raymond James Financial reissued an “outperform” rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a report on Monday, August 24th. Barclays reduced their target price on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Finally, Argus set a $110.00 price target on shares of Newmont and gave the company a “buy” rating in a report on Monday, August 3rd. Two research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

About Newmont

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.