Newmont (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of Stock

Key Points

• Newmont EVP Peter Toth sold 3,000 shares at an average price of $123, generating $369,000. The transaction, executed under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 7.44% to 37,315 shares.
• Newmont shares rose 4.3% to $130.59, near the company’s 52-week high of $135.29. The miner reported quarterly EPS of $2.10, beating analyst expectations, although revenue of $6.12 billion fell short of estimates.
• The company declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $132.73.

Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00. Following the completion of the transaction, the executive vice president owned 37,315 shares in the company, valued at approximately $4,589,745. The trade was a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Monday, August 3rd, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00.
• On Wednesday, July 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $92.38, for a total value of $277,140.00.

Newmont Trading Up 4.3%

NYSE:NEM traded up $5.43 during trading hours on Thursday, hitting $130.59. The company had a trading volume of 7,735,901 shares, compared to its average volume of 9,000,779. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a 52 week low of $73.44 and a 52 week high of $135.29. The stock has a 50-day moving average price of $105.83 and a 200 day moving average price of $109.56. 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.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.35 billion. During the same period in the previous year, the firm posted $1.43 EPS. On average, equities research analysts predict that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

NEM has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. Bank of America decreased their target price on Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. TD increased their price target on Newmont from $127.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Barclays dropped their price target on Newmont from $125.00 to $124.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. Finally, Citigroup decreased their price objective on shares of Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $132.73.

Institutional Investors Weigh In On Newmont

Several hedge funds have recently added to or reduced their stakes in NEM. Pinnacle Bancorp Inc. purchased a new position in Newmont during the first quarter worth approximately $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont in the 1st quarter worth $25,000. Clearstead Trust LLC purchased a new position in Newmont during the second quarter worth about $25,000. Kilter Group LLC purchased a new position in Newmont in the second quarter worth approximately $26,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Newmont during the fourth quarter valued at about $26,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

About Newmont

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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