Key Points
- Newmont EVP Peter Toth sold 3,000 shares for $324,120 at an average price of $108.04 under a pre-arranged Rule 10b5-1 plan. He retains 31,315 shares, an 8.74% reduction in his direct holdings.
- Newmont’s latest quarterly results beat estimates: EPS was $2.20 versus $1.94 expected, and revenue rose 15.2% year over year to $6.36 billion.
- The company declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 1.0% yield; analysts’ consensus rating is “Moderate Buy,” with a $137.20 price target.
Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the transaction, the executive vice president directly owned 31,315 shares in the company, valued at approximately $3,383,272.60. This represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Thursday, October 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $114.81, for a total value of $344,430.00.
- On Tuesday, September 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $123.00, for a total transaction of $369,000.00.
Newmont Trading Down 1.5%
Newmont stock opened at $107.48 on Wednesday. The stock has a market cap of $111.70 billion, a P/E ratio of 12.50, a PEG ratio of 1.99 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. Newmont Corporation has a 1 year low of $78.60 and a 1 year high of $135.29. The firm's 50 day moving average price is $119.68 and its 200-day moving average price is $112.42.
Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the firm earned $1.71 earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 9.11 earnings per share for the current fiscal year.
Newmont Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued 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 Wednesday, November 25th. Newmont's payout ratio is currently 12.09%.
Wall Street Analyst Weigh In
Several analysts have commented on NEM shares. BNP Paribas Exane boosted their price target on shares of Newmont from $102.00 to $112.00 and gave the stock a "neutral" rating in a research note on Monday, August 17th. Citigroup raised their price objective on Newmont from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, October 20th. BMO Capital Markets lifted their target price on Newmont from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, September 29th. Wall Street Zen downgraded Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Argus set a $110.00 price target on Newmont and gave the company a "buy" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.20.
View Our Latest Analysis on Newmont
Institutional Investors Weigh In On Newmont
Several large investors have recently bought and sold shares of NEM. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter worth about $11,289,753,000. State Street Corp raised its position in shares of Newmont by 3.1% during the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock valued at $4,893,852,000 after buying an additional 1,565,716 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Newmont in the 2nd quarter valued at about $671,197,000. Bank of New York Mellon Corp bought a new position in shares of Newmont in the 2nd quarter valued at about $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new position in shares of Newmont in the 2nd quarter valued at about $241,820,000. Institutional investors own 68.85% of the company's stock.
About Newmont
(
Get Free Report)
Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.
Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
