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

Key Points

• Newmont EVP Peter Toth sold 3,000 shares on June 1 at an average price of $105.32, totaling $315,960. The sale, done under a pre-arranged Rule 10b5-1 plan, reduced his direct holdings by about 6.08%.
• Newmont posted strong quarterly results, reporting EPS of $2.90 versus the $2.07 consensus and revenue of $7.31 billion, up 45.8% year over year. Analysts now expect full-year earnings of $9.72 per share.
• The company remains well supported by analysts and institutions, with a consensus rating of “Moderate Buy” and a target price of $142.20. Institutional investors own 68.85% of the stock, and several firms recently raised price targets or upgraded the shares.

Newmont Corporation (NYSE:NEM - Get Free Report) EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Friday, May 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $110.11, for a total value of $330,330.00.
• On Wednesday, April 1st, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $113.09, for a total value of $339,270.00.
• On Wednesday, March 18th, Peter Toth sold 3,000 shares of Newmont stock. The stock was sold at an average price of $108.00, for a total transaction of $324,000.00.

Newmont Stock Down 1.7%

Shares of Newmont stock traded down $1.88 during midday trading on Wednesday, reaching $107.62. 5,847,614 shares of the company's stock traded hands, compared to its average volume of 9,419,869. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 52 week low of $52.08 and a 52 week high of $134.88. The company's 50 day simple moving average is $111.08 and its 200 day simple moving average is $109.23. The company has a market cap of $114.89 billion, a price-to-earnings ratio of 13.96 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results 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 return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The business's revenue was up 45.8% compared to the same quarter last year. Equities analysts expect that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont's payout ratio is 13.49%.

Analyst Ratings Changes

Several research firms have issued reports on NEM. The Goldman Sachs Group upped their price objective on Newmont from $123.20 to $125.10 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Argus lifted their target price on Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Sanford C. Bernstein upgraded 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 note on Friday, February 27th. Canaccord Genuity Group raised their price target on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, National Bank Financial lifted their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.20.

Institutional Investors Weigh In On Newmont

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Newmont in the fourth quarter worth approximately $1,443,128,000. Van ECK Associates Corp lifted its position in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Newmont by 110.4% in 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 boosted its stake in shares of Newmont by 82.5% in 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, Assetmark Inc. lifted its holdings in Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock valued at $286,619,000 after buying an additional 2,294,396 shares during the period. Institutional investors own 68.85% of the company's stock.

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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