Newmont Co. (NYSE:NEM) EVP Sells $120,000.00 in Stock

Newmont Co. (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Newmont Stock Up 2.6 %

Shares of NEM stock traded up $1.02 on Tuesday, hitting $40.19. The stock had a trading volume of 11,363,374 shares, compared to its average volume of 8,537,674. The firm has a market capitalization of $45.75 billion, a price-to-earnings ratio of -26.44, a P/E/G ratio of 0.35 and a beta of 0.50. The stock’s 50 day moving average is $40.61 and its 200-day moving average is $46.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the company posted $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, research analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter worth about $27,000. Hoese & Co LLP bought a new position in shares of Newmont during the 3rd quarter valued at about $27,000. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the third quarter worth about $28,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Newmont in the third quarter worth about $32,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada dropped their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.