Insider Selling: Newmont Co. (NYSE:NEM) CEO Sells 11,000 Shares of Stock

Newmont Co. (NYSE:NEMGet Rating) CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $45.35, for a total transaction of $498,850.00. Following the sale, the chief executive officer now directly owns 254,949 shares in the company, valued at $11,561,937.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Thomas Ronald Palmer also recently made the following trade(s):

  • On Friday, July 1st, Thomas Ronald Palmer sold 11,000 shares of Newmont stock. The stock was sold at an average price of $59.43, for a total transaction of $653,730.00.
  • On Wednesday, June 1st, Thomas Ronald Palmer sold 11,000 shares of Newmont stock. The stock was sold at an average price of $67.64, for a total transaction of $744,040.00.

Newmont Trading Down 1.1 %

NEM opened at $44.77 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $58.51 and its 200-day moving average is $66.91. The firm has a market capitalization of $35.53 billion, a P/E ratio of 45.22 and a beta of 0.26. Newmont Co. has a 52-week low of $43.90 and a 52-week high of $86.37.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.24). The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Newmont had a return on equity of 9.13% and a net margin of 6.40%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Analysts expect that Newmont Co. will post 2.61 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.91%. Newmont’s dividend payout ratio (DPR) is presently 222.22%.

Institutional Trading of Newmont

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Newmont by 0.8% during the first quarter. BlackRock Inc. now owns 92,339,052 shares of the basic materials company’s stock valued at $7,336,337,000 after purchasing an additional 703,555 shares during the last quarter. Vanguard Group Inc. increased its stake in Newmont by 1.9% during the first quarter. Vanguard Group Inc. now owns 66,911,768 shares of the basic materials company’s stock valued at $5,316,140,000 after purchasing an additional 1,225,458 shares during the last quarter. State Street Corp increased its stake in Newmont by 0.7% during the first quarter. State Street Corp now owns 40,619,717 shares of the basic materials company’s stock valued at $3,227,237,000 after purchasing an additional 270,396 shares during the last quarter. GQG Partners LLC increased its stake in Newmont by 182.0% during the first quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company’s stock valued at $2,547,688,000 after purchasing an additional 20,699,677 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Newmont by 0.4% during the first quarter. First Eagle Investment Management LLC now owns 17,502,393 shares of the basic materials company’s stock valued at $1,390,565,000 after acquiring an additional 69,139 shares during the period. Institutional investors own 78.41% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. National Bank Financial raised shares of Newmont from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. Barclays decreased their target price on shares of Newmont from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and decreased their target price for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and decreased their target price for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. Finally, Credit Suisse Group cut shares of Newmont from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 19th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Hold” and an average price target of $70.37.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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