Key Points
- Director Bruce Brook sold 2,080 Newmont shares on Dec. 1 at an average price of $92.36 for about $192,108.80, reducing his holdings by 5.98% to 32,709 shares valued near $3.02M.
- Strong quarterly results: Newmont reported Q3 EPS of $1.71 versus $1.27 expected and revenue of $5.52B (up 20% YoY); the stock opened at $89.66 with a market cap of ~$97.85B and a P/E of ~13.9.
- The company announced a quarterly dividend of $0.25 per share (annualized $1.00, yield 1.1%, ex-dividend Nov. 26), and analysts hold an average "Buy" rating with a mean target of $92.59.
Newmont Corporation (NYSE:NEM - Get Free Report) Director Bruce Brook sold 2,080 shares of the firm's stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company's stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Newmont Stock Down 0.9%
Newmont stock opened at $89.66 on Thursday. The firm has a market capitalization of $97.85 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.64 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The stock's fifty day simple moving average is $86.68 and its 200-day simple moving average is $72.09.
Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.81 EPS. Newmont's revenue for the quarter was up 20.0% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.
Newmont Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont's dividend payout ratio is presently 15.53%.
Wall Street Analysts Forecast Growth
NEM has been the subject of a number of recent research reports. TD Securities lifted their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a "hold" rating in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a "buy" rating in a report on Sunday, October 12th. Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 18th. National Bankshares reiterated an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the company an "outperform" rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $92.59.
Check Out Our Latest Stock Report on NEM
Institutional Trading of Newmont
Several institutional investors and hedge funds have recently bought and sold shares of the business. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 236 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Newmont during the third quarter worth about $27,000. Harbor Capital Advisors Inc. grew its holdings in shares of Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company's stock worth $34,000 after buying an additional 139 shares during the last quarter. Concord Wealth Partners increased its position in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 385 shares during the period. Finally, Evermay Wealth Management LLC raised its stake in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.
Newmont Company Profile
(
Get Free Report)
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.
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