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

Newmont Co. (NYSE:NEM) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Newmont Price Performance

NEM traded up $1.02 during midday trading on Tuesday, reaching $40.19. 11,363,374 shares of the company’s stock were exchanged, compared to its average volume of 8,537,674. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $45.75 billion, a PE ratio of -26.44, a P/E/G ratio of 0.35 and a beta of 0.50. The business’s 50-day moving average price is $40.61 and its 200 day moving average price is $46.91. Newmont Co. has a 1-year low of $29.42 and a 1-year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on NEM. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday. They issued a “buy” rating and a $47.20 target price on the stock. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Hedge Funds Weigh In On Newmont

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. Zurich Insurance Group Ltd FI acquired a new position in Newmont during the third quarter worth about $98,011,000. Nordea Investment Management AB raised its position in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares during the last quarter. FMR LLC raised its position in shares of Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after buying an additional 1,096,905 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Newmont by 29.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after buying an additional 1,074,623 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.