Newmont (NYSE:NEM) CEO Sells $445,692.42 in Stock

Key Points

• Newmont CEO Natascha Viljoen sold 3,882 shares for approximately $445,692 at an average price of $114.81 under a pre-arranged Rule 10b5-1 trading plan. She retained 127,471 shares valued at about $14.6 million.
• Newmont shares recently traded at $115.51, with the company reporting quarterly EPS of $2.10, above analyst expectations of $2.05. The miner also pays a quarterly dividend of $0.26 per share, yielding approximately 0.9%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $134.26; institutional investors own approximately 68.85% of the stock.

Newmont Corporation (NYSE:NEM - Get Free Report) CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the sale, the chief executive officer directly owned 127,471 shares in the company, valued at $14,634,945.51. This represents a 2.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The shares were sold at an average price of $123.00, for a total value of $477,486.00.
• 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 Price Performance

Newmont stock traded up $0.84 during midday trading on Friday, reaching $115.51. The company's stock had a trading volume of 4,014,598 shares, compared to its average volume of 8,748,790. The firm has a market capitalization of $121.72 billion, a PE ratio of 14.59, a P/E/G ratio of 1.61 and a beta of 0.52. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The stock's 50 day simple moving average is $118.11 and its 200 day simple moving average is $109.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion for 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 in the prior year, the company posted $1.43 EPS. On average, equities research analysts forecast that Newmont Corporation will post 9.09 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont's dividend payout ratio (DPR) is presently 13.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of Newmont in a research note on Monday, August 24th. Barclays lowered their target price on Newmont from $125.00 to $124.00 and set an "overweight" rating on the stock in a report on Tuesday, July 28th. Citigroup dropped their price target on Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price objective on shares of Newmont from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $134.26.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp raised its position in shares of Newmont by 3.1% in the second 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 during the last quarter. Van ECK Associates Corp purchased a new position in shares of Newmont during the second quarter valued at approximately $671,197,000. Bank of New York Mellon Corp acquired a new stake in Newmont during the second quarter worth approximately $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new stake in Newmont during the second quarter worth approximately $241,820,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

About Newmont

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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