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

Newmont Corporation (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 shares were 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 shares were sold at an average price of $108.00, for a total value of $324,000.00.

Newmont Trading Down 1.7%

Shares of NEM opened at $107.62 on Thursday. The stock has a fifty day moving average of $111.55 and a two-hundred day moving average of $109.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $114.89 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.42. Newmont Corporation has a fifty-two week low of $52.08 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS 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 company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Seeking Alpha highlighted Newmont’s strong cash generation, saying its cash flow “explosion is just beginning,” supported by a new $6 billion buyback authorization, solid liquidity, and long-term gold price tailwinds. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Positive Sentiment: Royal Bank of Canada kept an outperform rating on Newmont and still sees upside, even after lowering its price target to $140 from $160. RBC price target update
• Neutral Sentiment: Newmont’s CEO Natascha Viljoen and EVP Peter Toth both sold shares, but the transactions were pre-planned under Rule 10b5-1 programs, which often makes them less concerning for investors.
• Neutral Sentiment: Yahoo Finance articles noted that Newmont is trading near estimated fair value and that investors are reassessing whether there is still meaningful upside after the stock’s very strong 1-year surge. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Neutral Sentiment: More recent market coverage says Newmont remains a trending stock, but this appears to reflect ongoing investor interest rather than a new fundamental catalyst. Newmont Corporation (NEM) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Some commentary warns that Newmont may have already priced in much of its recent upside, especially after a 96% one-year surge, which could limit near-term gains if gold or mining sentiment cools. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

Institutional Trading of Newmont

Several large investors have recently added to or reduced their stakes in NEM. Norges Bank acquired a new stake in Newmont in the 4th quarter valued at $1,443,128,000. Van ECK Associates Corp increased its holdings in 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 valued at $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in 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 in the last quarter. AQR Capital Management LLC increased its holdings in 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 in the last quarter. Finally, Assetmark Inc. increased its holdings in Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on NEM shares. Citigroup upped their price objective on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings downgraded Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. TD upped their price objective on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. BNP Paribas Exane increased their target price on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Finally, Jefferies Financial Group dropped their target price on shares of Newmont from $165.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.20.

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.