Newmont (NYSE:NEM) Insider David John Thornton Sells 2,296 Shares

Key Points

• Insider sale: Newmont insider David John Thornton sold 2,296 shares at an average price of $110.11 under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing his holding by 9.02% to 23,163 shares (≈$2.55M).
• Strong quarterly results: Newmont reported EPS of $2.90 (vs. $2.07 consensus) and revenue of $7.31B (up 45.8% YoY), with a 33.87% net margin and 27.84% return on equity.
• Dividend announced: The company declared a quarterly dividend of $0.26 per share (annualized $1.04) with an ex-dividend date of May 27 and a yield of about 1.0%.

Newmont Corporation (NYSE:NEM - Get Free Report) insider David John Thornton sold 2,296 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Stock Down 0.4%

NEM traded down $0.39 during trading on Monday, hitting $108.23. 5,627,444 shares of the company's stock were exchanged, compared to its average volume of 9,978,618. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $113.57 and its two-hundred day moving average is $105.57. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88. The stock has a market cap of $115.54 billion, a P/E ratio of 14.04, a PEG ratio of 1.55 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business's revenue was up 45.8% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders 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 annualized dividend and a yield of 1.0%. Newmont's dividend payout ratio is presently 13.49%.

Institutional Investors Weigh In On Newmont

Several large investors have recently made changes to their positions in NEM. Norges Bank purchased a new stake in shares of Newmont during the 4th quarter valued at $1,443,128,000. Van ECK Associates Corp increased its position in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company's stock valued at $873,011,000 after purchasing an additional 4,588,018 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company's stock valued at $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company's stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and increased their price target for the company from $121.00 to $157.00 in a research report on Friday, February 27th. TD Securities reissued a "hold" rating and issued a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. BMO Capital Markets increased their price target on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, UBS Group lowered their price target on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Newmont has an average rating of "Moderate Buy" and an average target price of $142.51.

Newmont Company Profile

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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