Peter Toth Sells 3,000 Shares of Newmont (NYSE:NEM) Stock

Key Points

• Newmont EVP Peter Toth sold 3,000 shares on May 1 at an average of $110.11 for $330,330, cutting his holdings to 49,315 shares (a 5.73% reduction); the sale was made under a pre-arranged Rule 10b5-1 trading plan and follows similar 3,000-share sales in March and April.
• Newmont reported a strong quarter with EPS $2.90 vs. $2.07 expected and revenue of $7.31 billion (up 45.8% YoY), and analysts maintain a consensus Moderate Buy rating with an average target of $142.51.
• The company declared a quarterly dividend of $0.26 (annualized $1.04, ~1.0% yield; ex-dividend May 27), while the stock trades around $108 with a market cap of about $115.5 billion.

Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the sale, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Toth also recently made the following trade(s):

• On Wednesday, April 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00.
• On Wednesday, March 18th, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00.

Newmont Stock Down 0.4%

Shares of NEM traded down $0.39 during midday trading on Monday, reaching $108.23. The stock had a trading volume of 5,627,444 shares, compared to its average volume of 9,978,618. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88. The company's fifty day simple moving average is $113.57 and its two-hundred day simple moving average is $105.57. The company has a market cap of $115.54 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating 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 business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the business earned $1.25 EPS. The company's revenue was up 45.8% on a year-over-year basis. Equities research analysts expect that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. UBS Group cut their price target on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Finally, TD Cowen reiterated a "buy" rating on shares of Newmont in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.51.

Institutional Investors Weigh In On Newmont

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Estate Counselors LLC acquired a new stake in shares of Newmont during the third quarter worth about $4,182,000. CWM LLC boosted its stake in shares of Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock worth $20,259,000 after buying an additional 79,617 shares during the period. AustralianSuper Pty Ltd boosted its stake in shares of Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock worth $27,843,000 after buying an additional 183,360 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock worth $30,775,000 after buying an additional 54,530 shares during the period. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in shares of Newmont by 286.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company's stock worth $5,101,000 after buying an additional 44,846 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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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