David James Fry Sells 18,394 Shares of Newmont (NYSE:NEM) Stock

Newmont Corporation (NYSE:NEM) insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Newmont Price Performance

Shares of Newmont stock traded down $4.75 during trading on Wednesday, reaching $106.29. The company’s stock had a trading volume of 14,713,234 shares, compared to its average volume of 10,006,306. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 12-month low of $42.93 and a 12-month high of $134.88. The company has a market capitalization of $115.63 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 0.85 and a beta of 0.39. The business has a 50 day moving average price of $118.89 and a 200-day moving average price of $99.20.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.71. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.Newmont’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be given a $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 3rd. Newmont’s dividend payout ratio (DPR) is 16.28%.

Institutional Investors Weigh In On Newmont

Several hedge funds have recently modified their holdings of the company. Apella Capital LLC boosted its holdings in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC grew its stake in shares of Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after buying an additional 88 shares during the period. Novem Group increased its holdings in shares of Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after buying an additional 88 shares during the last quarter. Norden Group LLC raised its position in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on NEM. Raymond James Financial increased their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. TD Cowen upped their price target on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Citigroup raised their price objective on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, BMO Capital Markets reduced their target price on Newmont from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $134.15.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.