Peter Toth Sells 3,000 Shares of Newmont Co. (NYSE:NEM) Stock

Newmont Co. (NYSE:NEM) EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Newmont Stock Performance

NYSE:NEM opened at $41.67 on Friday. The stock has a market capitalization of $47.44 billion, a P/E ratio of -27.41, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a 50 day moving average of $40.43 and a 200-day moving average of $46.86.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the firm posted $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is presently -65.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Bernstein Bank upped their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Hedge Funds Weigh In On Newmont

Large investors have recently modified their holdings of the stock. Heathbridge Capital Management Ltd. raised its position in Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB increased its stake in shares of Newmont by 0.4% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after buying an additional 200 shares during the period. Fulton Bank N.A. raised its position in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 221 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in shares of Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its position in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

About Newmont

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.