Newmont Corporation (NYSE:NEM – Get Free Report) CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $419,411.28. Following the transaction, the chief executive officer directly owned 101,691 shares in the company, valued at $10,986,695.64. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.
Natascha Viljoen also recently made the following trade(s):
- On Thursday, October 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The stock was sold at an average price of $114.81, for a total value of $445,692.42.
- On Tuesday, September 1st, Natascha Viljoen sold 3,882 shares of Newmont stock. The shares were sold at an average price of $123.00, for a total value of $477,486.00.
- On Wednesday, August 5th, Natascha Viljoen sold 7,764 shares of Newmont stock. The shares were sold at an average price of $104.00, for a total value of $807,456.00.
Newmont Price Performance
Shares of NEM opened at $118.22 on Thursday. The business’s 50-day moving average is $119.34 and its 200-day moving average is $112.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. The company has a market capitalization of $122.85 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.96 and a beta of 0.56. Newmont Corporation has a fifty-two week low of $80.49 and a fifty-two week high of $135.29.
Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same period last year, the company posted $1.71 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Newmont Corporation will post 9.11 EPS for the current fiscal year.
Newmont Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 12.09%.
More Newmont News
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Newmont’s strong free-cash-flow momentum is supporting investment in growth projects and additional shareholder returns, a potential fundamental tailwind. Article: Can Newmont’s Strong Free Cash Flow Momentum Carry Into Q4?
- Positive Sentiment: Recent quarterly results also provide support: Newmont beat analyst expectations for earnings and revenue, with revenue up year over year. Newmont company information
- Negative Sentiment: Insider-sale reports may weigh modestly on sentiment. EVP Peter Toth sold 3,000 shares, while the reported executive transactions were made under pre-arranged plans; the CEO’s sale was described as covering tax withholding on vested awards, which reduces their significance as a signal about the company’s outlook. Article: Insider Selling: Newmont EVP Sells 3,000 Shares
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of Newmont from $144.00 to $150.00 in a research note on Friday, October 16th. Barclays reduced their price objective on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Jefferies Financial Group boosted their target price on Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. Scotiabank dropped their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Finally, Royal Bank Of Canada raised their price target on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $137.20.
Get Our Latest Research Report on NEM
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Lido Advisors LLC acquired a new position in Newmont in the third quarter valued at approximately $5,045,000. Keybank National Association OH acquired a new stake in Newmont during the 3rd quarter worth $77,369,000. Elevated Capital Advisors LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $440,000. Cornerstone Wealth Management LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $346,000. Finally, Searle & CO. bought a new stake in shares of Newmont during the 3rd quarter valued at $678,000. Institutional investors own 68.85% of the company’s stock.
About Newmont
Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.
Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.
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