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 Newmont stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $71.20, for a total transaction of $783,200.00. Following the sale, the chief executive officer now owns 287,949 shares of the company’s stock, valued at $20,501,968.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Tuesday, March 1st, Thomas Ronald Palmer sold 7,000 shares of Newmont stock. The shares were sold at an average price of $66.94, for a total value of $468,580.00.

Shares of NEM opened at $73.39 on Thursday. The firm has a market cap of $58.25 billion, a price-to-earnings ratio of 56.02 and a beta of 0.36. The company has a quick ratio of 2.53, a current ratio of 2.92 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $76.73 and its two-hundred day moving average is $65.42. Newmont Co. has a 52-week low of $52.60 and a 52-week high of $86.37.

Newmont (NYSE:NEMGet Rating) last posted its quarterly earnings results on Friday, April 22nd. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.06 billion. Newmont had a net margin of 8.53% and a return on equity of 10.24%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. On average, equities analysts expect that Newmont Co. will post 3.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Wednesday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 3.00%. Newmont’s payout ratio is 167.94%.

Several analysts have weighed in on NEM shares. StockNews.com started coverage on Newmont in a report on Thursday, March 31st. They issued a “hold” rating on the stock. TD Securities cut their target price on shares of Newmont from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, April 25th. Credit Suisse Group cut shares of Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 19th. Bank of America raised their price target on Newmont from $70.00 to $75.00 in a research report on Monday, February 28th. Finally, National Bank Financial downgraded shares of Newmont from an “outperform” rating to a “sector perform” rating and set a $94.28 target price for the company. in a research note on Wednesday, April 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.26.

A number of large investors have recently bought and sold shares of the stock. GQG Partners LLC raised its stake in Newmont by 126,528.2% during the fourth quarter. GQG Partners LLC now owns 11,371,214 shares of the basic materials company’s stock valued at $705,131,000 after buying an additional 11,362,234 shares in the last quarter. Norges Bank bought a new stake in shares of Newmont in the 4th quarter valued at approximately $489,639,000. Invesco Ltd. raised its position in shares of Newmont by 44.2% during the 3rd quarter. Invesco Ltd. now owns 10,151,231 shares of the basic materials company’s stock valued at $551,212,000 after acquiring an additional 3,109,683 shares in the last quarter. Van ECK Associates Corp lifted its stake in Newmont by 6.0% during the fourth quarter. Van ECK Associates Corp now owns 39,746,651 shares of the basic materials company’s stock worth $2,465,087,000 after purchasing an additional 2,256,671 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Newmont by 10,363.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,207,852 shares of the basic materials company’s stock worth $136,931,000 after purchasing an additional 2,186,752 shares during the period. Institutional investors and hedge funds own 78.41% of the company’s stock.

About Newmont (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.

Further Reading

Insider Buying and Selling by Quarter for Newmont (NYSE:NEM)

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