Insider Selling: Newmont (NYSE:NEM) CEO Sells $477,486.00 in Stock

Key Points

• Newmont CEO Natascha Viljoen sold 3,882 shares for $477,486 at an average price of $123 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 2.87% to 131,353 shares.
• Newmont shares rose 4.3% to $130.59, near the company’s 52-week high, while its latest quarterly earnings exceeded analyst expectations on EPS but fell short on revenue.
• Analysts maintain a consensus “Moderate Buy” rating with a $132.73 price target; the company also declared a quarterly dividend of $0.26 per share, yielding about 0.8% annually.

Newmont Corporation (NYSE:NEM - Get Free Report) CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the sale, the chief executive officer owned 131,353 shares of the company's stock, valued at approximately $16,156,419. This trade represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Natascha Viljoen also recently made the following trade(s):

• On Wednesday, August 5th, Natascha Viljoen sold 7,764 shares of Newmont stock. The stock was sold at an average price of $104.00, for a total value of $807,456.00.

Newmont Stock Up 4.3%

Shares of NEM traded up $5.43 during mid-day trading on Thursday, hitting $130.59. 7,715,791 shares of the company traded hands, compared to its average volume of 9,000,779. Newmont Corporation has a 1-year low of $73.44 and a 1-year high of $135.29. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $137.60 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52. The business has a 50 day moving average of $105.83 and a 200 day moving average of $109.56.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts' expectations 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 business earned $1.43 EPS. Equities research analysts anticipate that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont's payout ratio is presently 13.13%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NEM. Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. National Bank Financial dropped their price target on Newmont from $140.00 to $125.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. UBS Group cut their price objective on Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Raymond James Financial restated an "outperform" rating and issued a $140.00 price objective on shares of Newmont in a research note on Monday, August 24th. Finally, Barclays decreased their target price on Newmont from $125.00 to $124.00 and set an "overweight" rating for the company in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $132.73.

Institutional Investors Weigh In On Newmont

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. Parkside Financial Bank & Trust increased its position in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock valued at $714,000 after buying an additional 96 shares in the last quarter. Coston McIsaac & Partners lifted its position in shares of Newmont by 28.6% in the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company's stock valued at $44,000 after buying an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Newmont by 6.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company's stock valued at $164,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. boosted its position in shares of Newmont by 0.6% in the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company's stock valued at $1,861,000 after acquiring an additional 100 shares during the period. Finally, Townsquare Capital LLC raised its position in shares of Newmont by 4.2% in the fourth quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company's stock valued at $252,000 after buying an additional 102 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source