David John Thornton Sells 2,296 Shares of Newmont (NYSE:NEM) Stock

Newmont Corporation (NYSE:NEM) insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Newmont Stock Performance

Shares of NEM stock traded down $0.39 on Monday, hitting $108.23. 5,627,444 shares of the stock were exchanged, compared to its average volume of 9,978,618. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $115.54 billion, a PE ratio of 14.04, a P/E/G ratio of 1.55 and a beta of 0.43. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The firm’s 50 day moving average is $113.57 and its two-hundred day moving average is $105.57.

Newmont (NYSE:NEM) last posted its quarterly 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 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 firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. Sell-side analysts expect that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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 is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is presently 13.49%.

Analysts Set New Price Targets

NEM has been the subject of several research reports. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Bank of America raised their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. UBS Group cut their target price on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.51.

Institutional Trading of Newmont

Large investors have recently modified their holdings of the business. GoalVest Advisory LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Physician Wealth Advisors Inc. boosted its position in shares of Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. Finally, Swiss RE Ltd. bought a new stake in shares of Newmont during the 4th quarter valued at about $26,000. Institutional investors own 68.85% of the company’s stock.

Newmont Company Profile

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.