Key Points
- Newmont EVP Peter Toth sold 3,000 shares on July 1 at an average price of $92.38, totaling about $277,140. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his direct holdings by 6.48%.
- Toth has also been selling shares recently, including 3,000 shares on both June 1 and May 1 at higher prices. Those prior sales totaled $315,960 and $330,330, respectively.
- Newmont’s fundamentals and analyst backdrop remain mixed but generally supportive: the company beat quarterly EPS estimates and raised revenue sharply year over year, while Jefferies kept a Buy rating but trimmed its price target. Newmont also recently paid a quarterly dividend of $0.26 per share.
Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the transaction, the executive vice president directly owned 43,315 shares of the company's stock, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 Monday, June 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $105.32, for a total value of $315,960.00.
- On Friday, May 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $110.11, for a total value of $330,330.00.
Newmont Price Performance
Newmont stock opened at $98.18 on Tuesday. The stock has a market capitalization of $104.81 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.61 and a beta of 0.46. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock's 50 day moving average price is $106.12 and its two-hundred day moving average price is $110.86.
Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business posted $1.25 EPS. Newmont's revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 9.87 earnings per share for the current year.
Newmont Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont's dividend payout ratio is 13.49%.
Institutional Trading of Newmont
A number of institutional investors have recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter valued at approximately $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont during the 1st quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in Newmont during the 4th quarter worth about $26,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.
Newmont News Summary
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Jefferies kept a Buy rating on Newmont even after cutting its price target from $158 to $146, which still implies meaningful upside from the current share price and supports the stock. Benzinga source
- Positive Sentiment: Recent commentary highlighted the possibility that higher gold prices could lift Newmont further, reinforcing sentiment around the company’s earnings leverage to bullion prices. Article title
- Positive Sentiment: Market recaps noted that Newmont outperformed the broader market in the latest session, reflecting continued investor interest in the gold miner. Article title
- Neutral Sentiment: Newmont’s accounting chief disclosed initial beneficial ownership, a routine corporate filing that does not by itself indicate a major change in fundamentals. Article title
- Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still weigh on sentiment because insider selling is often viewed cautiously by investors. Insider trade source
- Negative Sentiment: Jefferies lowered its price target on Newmont, which may signal slightly more tempered expectations even though the firm remains constructive on the stock. The Fly source
Analyst Upgrades and Downgrades
Several research firms have weighed in on NEM. Weiss Ratings downgraded shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. BNP Paribas Exane reduced their target price on Newmont from $128.00 to $111.00 and set a "neutral" rating for the company in a report on Thursday, June 18th. Jefferies Financial Group decreased their price target on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research report on Monday. Finally, Raymond James Financial dropped their price target on Newmont from $139.00 to $137.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $138.78.
Read Our Latest Stock Report on NEM
About Newmont
(
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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