Newmont Co. (NYSE:NEM) CEO Sells $547,690.00 in Stock

Newmont Co. (NYSE:NEM) CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Newmont Price Performance

NEM opened at $43.45 on Friday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The company’s 50 day simple moving average is $41.93 and its 200 day simple moving average is $38.14. The stock has a market capitalization of $50.10 billion, a PE ratio of -16.27, a P/E/G ratio of 0.35 and a beta of 0.47.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Newmont Co. will post 2.48 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its position in Newmont by 27.5% during the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after buying an additional 36,645 shares in the last quarter. American International Group Inc. boosted its position in Newmont by 24.8% during the 4th quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after purchasing an additional 58,217 shares during the period. Principal Financial Group Inc. increased its holdings in Newmont by 34.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock valued at $53,009,000 after purchasing an additional 325,320 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after purchasing an additional 94,692 shares during the period. Finally, Premier Fund Managers Ltd acquired a new position in shares of Newmont during the fourth quarter worth about $1,276,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Sanford C. Bernstein dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. BMO Capital Markets reduced their target price on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Scotiabank raised their price target on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.13.

About Newmont

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.