Stock Traders Purchase Large Volume of Put Options on Newmont (NYSE:NEM)

Newmont Co. (NYSE:NEM) was the target of unusually large options trading activity on Wednesday. Stock investors bought 68,812 put options on the company. This is an increase of 72% compared to the typical volume of 39,937 put options.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Large investors have recently modified their holdings of the business. Lazard Asset Management LLC lifted its position in Newmont by 95.7% during the first quarter. Lazard Asset Management LLC now owns 46,788 shares of the basic materials company’s stock valued at $1,676,000 after acquiring an additional 22,880 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in Newmont by 10.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 57,251 shares of the basic materials company’s stock valued at $2,052,000 after acquiring an additional 5,563 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Newmont by 19.1% in the first quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company’s stock worth $12,256,000 after buying an additional 54,761 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Newmont by 4.3% in the first quarter. California State Teachers Retirement System now owns 1,870,040 shares of the basic materials company’s stock worth $67,022,000 after buying an additional 76,945 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Newmont by 6.1% in the first quarter. Tidal Investments LLC now owns 135,964 shares of the basic materials company’s stock worth $4,851,000 after buying an additional 7,876 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NEM shares. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada dropped their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Jefferies Financial Group lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, seven 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 a consensus price target of $54.31.

Newmont Trading Up 0.1 %

NYSE:NEM opened at $42.04 on Thursday. Newmont has a one year low of $29.42 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $47.86 billion, a P/E ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51. The firm has a 50-day simple moving average of $49.57 and a 200-day simple moving average of $47.47.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio is currently -65.79%.

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.