Newmont Corporation (NYSE:NEM) Director Sells $132,221.82 in Stock

Key Points

• Newmont Corporation Director Bruce R. Brook sold 2,077 shares valued at approximately $132,221.82, reducing his ownership in the company by 4.82% to 41,026 shares.
• The company's quarterly earnings report showed an EPS of $1.43, exceeding estimates by $0.48, and revenue of $5.32 billion, which is a 20.8% increase from the previous year.
• Newmont declared a quarterly dividend of $0.25 per share, which is set to be paid on September 29, representing an annualized yield of 1.5%.

Newmont Corporation (NYSE:NEM - Get Free Report) Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the sale, the director directly owned 41,026 shares in the company, valued at $2,611,715.16. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Newmont Trading Up 2.8%

NEM stock traded up $1.84 during mid-day trading on Tuesday, reaching $67.26. The company had a trading volume of 10,370,539 shares, compared to its average volume of 13,125,693. The company has a market capitalization of $73.88 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $67.43. The firm has a 50 day moving average of $58.33 and a 200 day moving average of $51.58.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Newmont's payout ratio is currently 17.95%.

Institutional Trading of Newmont

Large investors have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at about $1,305,000. NewSquare Capital LLC increased its holdings in shares of Newmont by 77.6% in the second quarter. NewSquare Capital LLC now owns 755 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 330 shares during the last quarter. Huntington National Bank grew its holdings in shares of Newmont by 13.5% in the second quarter. Huntington National Bank now owns 10,648 shares of the basic materials company's stock valued at $620,000 after purchasing an additional 1,266 shares during the period. Bridgewater Advisors Inc. acquired a new position in Newmont in the second quarter valued at approximately $229,000. Finally, Freestone Capital Holdings LLC lifted its position in Newmont by 129.6% in the second quarter. Freestone Capital Holdings LLC now owns 78,717 shares of the basic materials company's stock valued at $4,586,000 after buying an additional 44,428 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NEM shares. Royal Bank Of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 target price on shares of Newmont in a report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Finally, CIBC set a $74.00 target price on shares of Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus target price of $64.58.

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.

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