Insider Selling: Newmont (NYSE:NEM) CEO Sells $408,852.24 in Stock

Newmont Corporation (NYSE:NEM) CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Newmont Trading Down 7.9%

NEM opened at $99.77 on Friday. The firm’s fifty day moving average is $111.70 and its two-hundred day moving average is $109.55. 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 firm has a market cap of $106.51 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42. Newmont Corporation has a twelve month low of $52.08 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEM shares. UBS Group lowered their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. BMO Capital Markets increased their price objective on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. TD Cowen reissued a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Macquarie Infrastructure increased their price objective on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada lowered their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $142.07.

Institutional Investors Weigh In On Newmont

Large investors have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC bought a new position in Newmont in the first quarter valued at $25,000. Pinnacle Bancorp Inc. bought a new position in Newmont in the first quarter valued at $25,000. GoalVest Advisory LLC bought a new position in Newmont in the fourth quarter valued at $25,000. Swiss RE Ltd. bought a new position in Newmont in the fourth quarter valued at $26,000. Finally, Cornerstone Planning Group LLC grew its position in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

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.