Key Points
- Newmont EVP Peter Toth sold 3,000 shares for $280,350 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 6.93% to 40,315 shares. This was his third reported 3,000-share sale since June.
- Newmont reported quarterly EPS of $2.10, exceeding the $2.05 consensus estimate, while revenue of $6.12 billion fell short of expectations. The company also declared a quarterly dividend of $0.26, equivalent to a 1.0% annual yield.
- Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $132.11, despite several recent target reductions.
Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Peter Toth also recently made the following trade(s):
- On Wednesday, July 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $92.38, for a total value of $277,140.00.
- 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.
Newmont Stock Performance
Shares of NEM stock opened at $104.46 on Thursday. Newmont Corporation has a 12-month low of $66.94 and a 12-month high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $110.07 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.08 and a beta of 0.47. The business has a 50 day simple moving average of $97.91 and a 200 day simple moving average of $109.11.
Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the previous year, the business earned $1.43 EPS. On average, equities research analysts anticipate that Newmont Corporation will post 9.06 EPS for the current year.
Newmont Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, September 3rd. Newmont's dividend payout ratio is currently 13.13%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in NEM. Bridgewater Advisors Inc. acquired a new stake in shares of Newmont during the 2nd quarter valued at $357,000. Compound Global Advisors LLC acquired a new position in shares of Newmont in the 2nd quarter worth $37,000. Summit Global Investments acquired a new stake in shares of Newmont during the second quarter worth $6,343,000. Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Newmont during the second quarter worth $279,000. Finally, Accel Wealth Management lifted its holdings in shares of Newmont by 0.8% during the second quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company's stock valued at $1,377,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on NEM. Jefferies Financial Group reduced their price target on shares of Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Scotiabank dropped their target price on Newmont from $151.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. BMO Capital Markets decreased their price target on Newmont from $145.00 to $135.00 and set an "outperform" rating for the company in a research note on Tuesday, June 23rd. BNP Paribas Exane dropped their price objective on Newmont from $111.00 to $102.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 21st. Finally, Citigroup cut their price objective on Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $132.11.
Read Our Latest Analysis on Newmont
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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