Insider Selling: Newmont (NYSE:NEM) Director Sells $176,779.20 in Stock

Newmont Corporation (NYSE:NEM) Director Bruce Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Newmont Trading Up 0.5%

NEM stock opened at $86.86 on Monday. The business has a fifty day moving average price of $74.37 and a 200 day moving average price of $61.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $87.93. The stock has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NEM shares. BNP Paribas Exane upped their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Stifel Nicolaus began coverage on Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective on the stock. CIBC increased their price objective on Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research report on Saturday, September 27th. Finally, National Bankshares reiterated an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $74.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NEM. Summit Financial Wealth Advisors LLC grew its stake in shares of Newmont by 2.3% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares during the period. Hemington Wealth Management boosted its holdings in Newmont by 17.6% during the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after buying an additional 170 shares during the last quarter. IVC Wealth Advisors LLC grew its position in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after buying an additional 173 shares during the period. L2 Asset Management LLC grew its position in shares of Newmont by 3.6% during the 2nd quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company’s stock worth $291,000 after buying an additional 174 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Company Profile

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, Papua New Guinea, Ecuador, Fiji, and Ghana.