Newmont (NYSE:NEM) EVP Peter Wexler Sells 13,378 Shares

Key Points

• Newmont EVP Peter Wexler sold 13,378 shares on May 1 at an average price of $110.11 for roughly $1.47 million, leaving him with 67,865 shares — a reported 16.47% reduction in his ownership.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan to cover tax withholding from vested equity awards and was disclosed on an SEC Form 4.
• Company context: Newmont recently beat Q1 estimates (EPS $2.90 vs. $2.07; revenue $7.31B), announced a $0.26 quarterly dividend (annualized $1.04, 1.0% yield), and trades near $108 with an analyst consensus rating of "Moderate Buy" and a $142.51 average price target.

Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company's stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Newmont Trading Down 0.4%

Shares of NEM stock traded down $0.39 during trading hours on Monday, reaching $108.23. 5,627,444 shares of the stock were exchanged, compared to its average volume of 9,978,618. Newmont Corporation has a 12-month low of $48.27 and a 12-month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $113.57 and its 200-day moving average price is $105.57. The firm has a market capitalization of $115.54 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same period in the previous year, the company earned $1.25 EPS. The firm's revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, equities analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Institutional Investors Weigh In On Newmont

Large investors have recently modified their holdings of the business. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the 1st quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont in the 1st quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Finally, Swiss RE Ltd. bought a new stake in shares of Newmont in the 4th quarter valued at about $26,000. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Canadian Imperial Bank of Commerce decreased their price objective on shares of Newmont from $177.00 to $176.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Bank of America lifted their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Finally, Jefferies Financial Group lifted their price objective on shares of Newmont from $162.00 to $165.00 and gave the company a "buy" rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $142.51.

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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