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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares in the company, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, June 1st, Peter Toth sold 3,000 shares of Newmont stock. The shares were sold at an average price of $105.32, for a total value of $315,960.00.
• 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.

Newmont Stock Performance

Shares of Newmont stock opened at $94.95 on Wednesday. The business’s fifty day simple moving average is $105.35 and its 200 day simple moving average is $110.83. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The firm has a market capitalization of $101.36 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.46.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, analysts anticipate that Newmont Corporation will post 9.87 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the fourth quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont during the 1st quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Newmont during the 4th quarter worth about $26,000. Finally, Cornerstone Planning Group LLC boosted its stake in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the period. 68.85% of the stock is owned by institutional investors.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies reiterated a Buy rating on Newmont and still sees upside even after trimming its price target to $146, which supports the stock’s long-term valuation case. Benzinga source
• Positive Sentiment: Recent coverage highlighted Newmont as a leader among gold stocks, with commentary pointing to higher gold prices as a potential driver of earnings and share performance. Article title
• Positive Sentiment: Analyst and market recaps note Newmont’s strong operating profile, including a recent earnings beat and continued investor interest in the gold miner. Article title

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEM. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. National Bank Financial upped their price objective on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Barclays assumed coverage on Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price for the company. TD Securities restated a “hold” rating and issued a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Finally, Macquarie Infrastructure dropped their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $138.78.

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.