Newmont Co. (NYSE:NEM) Director Sells $106,923.96 in Stock

Newmont Co. (NYSE:NEM - Get Free Report) Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. This trade represents a 4.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Newmont Stock Performance

NEM stock traded up $1.51 during midday trading on Monday, hitting $53.04. 12,124,363 shares of the company traded hands, compared to its average volume of 9,861,681. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The business has a 50 day simple moving average of $48.59 and a 200-day simple moving average of $44.96. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $59.03 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm posted $0.55 EPS. As a group, equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is presently 22.42%.

Hedge Funds Weigh In On Newmont

Hedge funds and other institutional investors have recently made changes to their positions in the business. SOA Wealth Advisors LLC. boosted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in Newmont in the 1st quarter valued at about $26,000. Private Trust Co. NA raised its position in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Nexus Investment Management ULC acquired a new position in shares of Newmont during the first quarter valued at $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Newmont in the 1st quarter valued at about $32,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James reaffirmed an "outperform" rating and set a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.63.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

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