Stock Traders Buy High Volume of Call Options on Newmont (NYSE:NEM)

Newmont Corporation (NYSE:NEM - Get Free Report) saw unusually large options trading on Tuesday. Stock traders bought 71,740 call options on the company. This represents an increase of 71% compared to the average volume of 41,915 call options.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,231 shares of company stock worth $679,813. Company insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Newmont

A number of hedge funds have recently made changes to their positions in NEM. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock valued at $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock valued at $260,000 after purchasing an additional 190 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Newmont by 25.2% in the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. lifted its stake in shares of Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its stake in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.45.

Newmont Stock Down 6.1%

Shares of NYSE NEM traded down $3.72 during mid-day trading on Tuesday, hitting $57.10. 20,575,199 shares of the stock traded hands, compared to its average volume of 10,691,391. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. Newmont has a 52 week low of $36.86 and a 52 week high of $61.17. The company has a market cap of $63.55 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.68 and a beta of 0.33. The stock has a fifty day moving average price of $55.50 and a 200-day moving average price of $49.22.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. Research analysts anticipate that Newmont will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Newmont Company Profile

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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