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

Newmont Co. (NYSE:NEM) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Peter Toth also recently made the following trade(s):

• On Friday, January 10th, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00.

Newmont Stock Performance

NYSE NEM opened at $44.85 on Friday. The firm has a market cap of $51.06 billion, a P/E ratio of -29.51, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52. The company’s 50 day moving average is $40.41 and its 200-day moving average is $46.53. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On Newmont

Several large investors have recently added to or reduced their stakes in NEM. Avior Wealth Management LLC increased its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Hoese & Co LLP purchased a new stake in shares of Newmont during the third quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new stake in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC purchased a new position in Newmont during the 3rd quarter valued at about $32,000. Finally, McIlrath & Eck LLC increased its stake in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NEM. Scotiabank decreased their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada dropped their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $53.44.

Newmont Company Profile

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.