Key Points
- Newmont EVP Peter Toth sold 3,000 shares for $344,430, reducing his holdings by 8.04% to 34,315 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Newmont reported quarterly EPS of $2.10, beating estimates of $2.05, while revenue of $6.12 billion fell short of the $6.35 billion consensus. The company also pays a quarterly dividend of $0.26 per share, yielding approximately 0.9% annually.
- Analysts maintain a generally positive view, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $134.26 versus recent trading near $115.51.
Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares of the company's stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, September 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $123.00, for a total value of $369,000.00.
- On Monday, August 3rd, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $93.45, for a total value of $280,350.00.
Newmont Stock Up 0.7%
NYSE NEM opened at $115.51 on Friday. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. 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 cap of $121.72 billion, a PE ratio of 14.59, a P/E/G ratio of 1.60 and a beta of 0.51. The stock's 50 day moving average is $118.56 and its 200 day moving average is $109.89.
Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period last year, the firm posted $1.43 EPS. Research analysts predict that Newmont Corporation will post 9.09 EPS for the current fiscal year.
Newmont Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's dividend payout ratio is currently 13.13%.
Institutional Trading of Newmont
Large investors have recently made changes to their positions in the business. CX Institutional bought a new stake in Newmont during the third quarter worth approximately $967,000. GoalVest Advisory LLC bought a new stake in Newmont in the third quarter worth $28,000. Versant Capital Management Inc bought a new stake in Newmont in the third quarter worth $570,000. Confluence Investment Management LLC purchased a new position in Newmont during the third quarter worth $2,353,000. Finally, QRG Capital Management Inc. increased its position in Newmont by 2.4% during the second quarter. QRG Capital Management Inc. now owns 225,867 shares of the basic materials company's stock valued at $21,096,000 after acquiring an additional 5,312 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on NEM shares. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Citigroup cut their price objective on Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Macquarie Infrastructure reduced their target price on Newmont from $133.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, June 15th. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 target price on shares of Newmont in a research report on Monday, August 24th. Finally, TD Securities raised Newmont from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.26.
Check Out Our Latest Report on NEM
Newmont News Summary
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Analysts raised Newmont’s price target to $145, implying meaningful potential upside from recent trading levels and reflecting confidence in the company’s gold production and cash-generation outlook. Newmont Price Target Raised to $145.00
- Positive Sentiment: Newmont is being highlighted as one of the gold-mining stocks to watch, which could attract investor interest while gold prices and demand for defensive assets remain supportive. Newmont And 2 Top Gold Mining Stocks To Watch
- Positive Sentiment: Newmont has a strong earnings-surprise record, and analysts expect the company to potentially beat estimates again in its upcoming report. Its latest quarterly results also exceeded consensus EPS expectations, supporting the bullish case. Will Newmont Beat Estimates Again in Its Next Earnings Report?
- Neutral Sentiment: Investors are preparing for Newmont’s next earnings release, with attention likely focused on gold prices, production, costs and management’s outlook. What You Need to Know Ahead of Newmont’s Earnings Release
- Negative Sentiment: CEO Natascha Viljoen sold approximately $446,000 of shares, while EVP Peter Toth sold about $344,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, although insider selling can still weigh on sentiment. Newmont Insider Sale Filing
- Negative Sentiment: One recent analysis argued that Newmont’s shares appear priced above the company’s cash-flow outlook, raising concerns that substantial optimism may already be reflected in the valuation. Newmont Stock Looks Priced Above Its Cash Flow Outlook
Newmont Company Profile
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Get Free Report)
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.
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