Key Points
- EVP Peter Toth sold 3,000 Newmont shares on April 1 at an average price of $113.09 for about $339,270, leaving him with 52,315 shares (a 5.42% reduction); he also sold 3,000 shares on March 18 at $108.00.
- Newmont reported strong quarterly results, with EPS of $2.52 vs. $1.81 expected and revenue of $6.82B (up 20.6% year-over-year), and recently raised its quarterly dividend to $0.26.
- Wall Street sentiment remains positive—the consensus rating is "Buy" with a $133.78 average price target and several firms raising their objectives.
Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Peter Toth also recently made the following trade(s):
- On Wednesday, March 18th, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $108.00, for a total transaction of $324,000.00.
Newmont Stock Performance
Shares of NYSE NEM opened at $114.13 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average price is $116.13 and its two-hundred day moving average price is $101.36. Newmont Corporation has a 52-week low of $42.93 and a 52-week high of $134.88. The stock has a market capitalization of $123.26 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.88 and a beta of 0.46.
Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.71. The business had revenue of $6.82 billion for 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%.The business's quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.
Newmont Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 3rd. This is a positive change from Newmont's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont's dividend payout ratio (DPR) is 16.28%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. McAlvany Wealth Management LLC bought a new position in Newmont during the 4th quarter valued at $2,711,000. Rockefeller Capital Management L.P. raised its stake in shares of Newmont by 5.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 431,746 shares of the basic materials company's stock worth $43,110,000 after buying an additional 22,133 shares in the last quarter. World Investment Advisors raised its stake in shares of Newmont by 298.1% in the 4th quarter. World Investment Advisors now owns 19,255 shares of the basic materials company's stock worth $1,923,000 after buying an additional 14,418 shares in the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in shares of Newmont in the fourth quarter valued at $30,000. Finally, Larry Mathis Financial Planning LLC bought a new position in Newmont during the fourth quarter valued at about $569,000. 68.85% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
NEM has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of Newmont from $99.90 to $123.90 and gave the company a "buy" rating in a research report on Monday, January 12th. DZ Bank upgraded shares of Newmont to a "strong-buy" rating in a research report on Monday, January 19th. Citigroup lifted their price target on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Bank of America boosted their price objective on Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Finally, Wall Street Zen lowered Newmont from a "buy" rating to a "hold" rating in a report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $133.78.
Read Our Latest Stock Report on NEM
Newmont Company Profile
(
Get Free Report)
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.
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