Newmont Co. (NYSE:NEM) CEO Sells $547,690.00 in Stock

Newmont Co. (NYSE:NEM) CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Newmont Stock Up 4.1 %

NEM stock traded up $1.71 during trading on Wednesday, reaching $43.42. The stock had a trading volume of 5,732,432 shares, compared to its average volume of 11,741,490. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $41.83 and a 200 day moving average price of $38.11. The company has a market capitalization of $50.07 billion, a P/E ratio of -16.27, a PEG ratio of 0.35 and a beta of 0.47. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $45.92.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, equities analysts anticipate that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Institutional Investors Weigh In On Newmont

Hedge funds and other institutional investors have recently modified their holdings of the stock. Life Planning Partners Inc bought a new stake in Newmont in the fourth quarter valued at about $26,000. Manchester Capital Management LLC raised its position in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 397 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Newmont during the 1st quarter valued at approximately $25,000. CVA Family Office LLC bought a new position in Newmont during the fourth quarter worth $34,000. Finally, Heritage Wealth Advisors boosted its holdings in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NEM shares. BMO Capital Markets decreased their price objective on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Citigroup reduced their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Scotiabank boosted their price objective on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.13.

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.