Insider Selling: Newmont (NYSE:NEM) EVP Sells $344,430.00 in Stock

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Toth also recently made the following trade(s):

• On Tuesday, September 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $123.00, for a total transaction of $369,000.00.
• On Monday, August 3rd, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00.

Newmont Stock Down 0.0%

Shares of NEM stock opened at $115.51 on Monday. The stock has a market cap of $121.72 billion, a P/E ratio of 14.59, a PEG ratio of 1.61 and a beta of 0.51. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $118.56 and its two-hundred day simple moving average is $109.89.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the business posted $1.43 earnings per share. Analysts predict that Newmont Corporation will post 9.09 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Institutional Investors Weigh In On Newmont

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter worth about $11,289,753,000. State Street Corp grew its holdings in Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after purchasing an additional 480,223 shares during the last quarter. Van ECK Associates Corp raised its position in Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Bank of New York Mellon Corp lifted its stake in Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after purchasing an additional 615,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Newmont by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after purchasing an additional 184,586 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NEM shares. Citigroup decreased their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Canaccord Genuity Group reduced their price target on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Scotiabank upped their price target on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. National Bank Financial lifted their price objective on shares of Newmont from $120.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, September 21st. Finally, UBS Group reduced their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.26.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts raised Newmont’s price target to $145, implying meaningful potential upside from recent trading levels and reflecting confidence in the company’s gold production and cash-generation outlook. Newmont Price Target Raised to $145.00
• Positive Sentiment: Newmont is being highlighted as one of the gold-mining stocks to watch, which could attract investor interest while gold prices and demand for defensive assets remain supportive. Newmont And 2 Top Gold Mining Stocks To Watch
• Positive Sentiment: Newmont has a strong earnings-surprise record, and analysts expect the company to potentially beat estimates again in its upcoming report. Its latest quarterly results also exceeded consensus EPS expectations, supporting the bullish case. Will Newmont Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Investors are preparing for Newmont’s next earnings release, with attention likely focused on gold prices, production, costs and management’s outlook. What You Need to Know Ahead of Newmont’s Earnings Release
• Negative Sentiment: CEO Natascha Viljoen sold approximately $446,000 of shares, while EVP Peter Toth sold about $344,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, although insider selling can still weigh on sentiment. Newmont Insider Sale Filing
• Negative Sentiment: One recent analysis argued that Newmont’s shares appear priced above the company’s cash-flow outlook, raising concerns that substantial optimism may already be reflected in the valuation. Newmont Stock Looks Priced Above Its Cash Flow Outlook

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.