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 the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Newmont Trading Up 2.6 %

NEM stock opened at $40.19 on Wednesday. The company’s 50-day simple moving average is $40.49 and its 200-day simple moving average is $46.90. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The firm has a market cap of $45.75 billion, a P/E ratio of -26.44, a PEG ratio of 0.35 and a beta of 0.50.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. 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 dividend payout ratio is presently -65.79%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NEM. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Institutional Inflows and Outflows

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

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.