Newmont Corporation (NYSE:NEM – Get Free Report) EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Stock Down 7.9%
Shares of NYSE NEM opened at $99.77 on Friday. The firm has a market cap of $106.51 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.80 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $52.08 and a 52-week high of $134.88. The business’s 50 day moving average is $111.70 and its two-hundred day moving average is $109.55.
Newmont Dividend Announcement
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 given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont’s payout ratio is presently 13.49%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on NEM shares. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Stifel Nicolaus upped their price objective on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Scotiabank cut their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. BNP Paribas Exane upped their price objective on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Finally, Macquarie Infrastructure upped their price objective on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Two equities research analysts have 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $142.07.
Check Out Our Latest Stock Analysis on NEM
Hedge Funds Weigh In On Newmont
Hedge funds have recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in shares of Newmont during the fourth quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the first quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont during the first quarter worth about $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Finally, Swiss RE Ltd. purchased a new position in shares of Newmont during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Key Newmont News
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
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.
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