Newmont Co. (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of 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 stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Newmont Stock Up 2.6 %

Newmont stock opened at $40.19 on Wednesday. The business has a fifty day moving average of $40.49 and a two-hundred day moving average of $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. The firm has a market cap of $45.75 billion, a P/E ratio of -26.44, a P/E/G ratio of 0.35 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly 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 for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders 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 dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is presently -65.79%.

Hedge Funds Weigh In On Newmont

A number of large investors have recently made changes to their positions in the business. Heathbridge Capital Management Ltd. increased its position in shares of Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB increased its position in shares of Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after acquiring an additional 221 shares during the period. Carmel Capital Partners LLC increased its position in shares of Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its position in shares of Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 229 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Raymond James dropped their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price 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.