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

Newmont Corporation (NYSE:NEM) CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the sale, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $477,486.00.
• On Wednesday, August 5th, Natascha Viljoen sold 7,764 shares of Newmont stock. The stock was sold at an average price of $104.00, for a total value of $807,456.00.

Newmont Trading Up 0.7%

Shares of NYSE NEM traded up $0.84 on Friday, reaching $115.51. 4,014,598 shares of the company traded hands, compared to its average volume of 8,748,790. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The company has a 50 day moving average of $118.11 and a 200 day moving average of $109.85. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $121.72 billion, a PE ratio of 14.59, a P/E/G ratio of 1.61 and a beta of 0.52.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the company earned $1.43 earnings per share. On average, equities research analysts forecast that Newmont Corporation will post 9.09 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Newmont during the 2nd quarter valued at about $11,289,753,000. Van ECK Associates Corp acquired a new position in shares of Newmont in the second quarter worth about $671,197,000. Bank of New York Mellon Corp purchased a new position in Newmont in the second quarter valued at about $1,219,505,000. First Eagle Investment Management LLC purchased a new position in Newmont in the second quarter valued at about $241,820,000. Finally, Amundi acquired a new stake in Newmont during the 2nd quarter valued at approximately $209,411,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NEM shares. BNP Paribas Exane dropped their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Barclays lowered their price target on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Macquarie Infrastructure dropped their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Finally, Jefferies Financial Group cut their price objective on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.26.

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.