Newmont Corporation (NYSE:NEM) CAO Brian Tabolt Sells 7,015 Shares

Key Points

• Newmont Corporation's CAO, Brian Tabolt, sold 7,015 shares at an average price of $68.02, totaling approximately $477,160, which reduced his ownership by 17.70%.
• The company recently announced a quarterly dividend of $0.25 per share, with a record date of September 4th, representing a 1.5% yield for shareholders.
• Newmont reported impressive earnings, with $1.43 earnings per share for the last quarter, significantly exceeding estimates, alongside a revenue increase of 20.8% year-over-year.

Newmont Corporation (NYSE:NEM - Get Free Report) CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Newmont Stock Down 0.2%

NYSE NEM traded down $0.11 on Friday, reaching $68.96. 9,068,992 shares of the stock traded hands, compared to its average volume of 12,096,135. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $70.29. The company has a fifty day moving average price of $59.25 and a 200-day moving average price of $51.99. The company has a market cap of $75.75 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.83 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. As a group, research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is presently 17.95%.

Wall Street Analyst Weigh In

NEM has been the topic of several research reports. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Raymond James Financial upped their price target on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, July 28th. UBS Group increased their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. CIBC set a $74.00 price target on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.58.

Institutional Trading of Newmont

A number of hedge funds have recently modified their holdings of NEM. Itau Unibanco Holding S.A. raised its holdings in shares of Newmont by 4.5% during the second quarter. Itau Unibanco Holding S.A. now owns 23,287 shares of the basic materials company's stock valued at $1,357,000 after acquiring an additional 1,000 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Newmont by 11.7% in the second quarter. Citizens Financial Group Inc. RI now owns 19,126 shares of the basic materials company's stock valued at $1,114,000 after purchasing an additional 2,005 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Newmont by 94.2% in the second quarter. Avantax Advisory Services Inc. now owns 40,086 shares of the basic materials company's stock valued at $2,335,000 after purchasing an additional 19,443 shares during the last quarter. Intech Investment Management LLC grew its position in Newmont by 175.6% in the second quarter. Intech Investment Management LLC now owns 137,791 shares of the basic materials company's stock worth $8,028,000 after acquiring an additional 87,802 shares during the period. Finally, Creative Planning grew its position in Newmont by 16.0% in the second quarter. Creative Planning now owns 155,637 shares of the basic materials company's stock worth $9,067,000 after acquiring an additional 21,508 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

About Newmont

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.