Newmont (NYSE:NEM) CEO Sells 3,882 Shares of Stock

Newmont Corporation (NYSE:NEM) CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $419,411.28. Following the completion of the sale, the chief executive officer directly owned 101,691 shares in the company, valued at approximately $10,986,695.64. The trade was a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Natascha Viljoen also recently made the following trade(s):

• On Thursday, October 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42.
• On Tuesday, September 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00.
• On Wednesday, August 5th, Natascha Viljoen sold 7,764 shares of Newmont stock. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00.

Newmont Price Performance

NYSE NEM traded down $1.61 during trading hours on Tuesday, reaching $107.48. 4,514,889 shares of the company’s stock were exchanged, compared to its average volume of 8,442,008. The stock has a market cap of $111.70 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51. Newmont Corporation has a one year low of $78.60 and a one year high of $135.29. The firm has a fifty day moving average of $120.16 and a 200-day moving average of $112.46. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.26. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. On average, equities research analysts predict that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s payout ratio is currently 12.09%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NEM shares. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Sanford C. Bernstein upped their target price on shares of Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Scotiabank decreased their price target on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Freedom Broker lowered shares of Newmont from a “buy” rating to a “hold” rating and lowered their price target for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Finally, Canaccord Genuity Group dropped their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Hedge Funds Weigh In On Newmont

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Newmont during the second quarter worth approximately $11,289,753,000. State Street Corp raised its position in shares of Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after buying an additional 1,565,716 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Newmont in the second quarter valued at approximately $671,197,000. Bank of New York Mellon Corp bought a new stake in shares of Newmont in the second quarter valued at approximately $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Newmont in the second quarter valued at approximately $241,820,000. Institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.