Newmont Co. (NYSE:NEM) COO Robert D. Atkinson Sells 3,000 Shares

Newmont Co. (NYSE:NEMGet Rating) COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $71.20, for a total value of $213,600.00. Following the completion of the sale, the chief operating officer now owns 70,617 shares of the company’s stock, valued at approximately $5,027,930.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NEM stock opened at $73.39 on Thursday. The stock has a market cap of $58.25 billion, a price-to-earnings ratio of 56.02 and a beta of 0.36. The business’s fifty day moving average is $76.73 and its 200 day moving average is $65.42. Newmont Co. has a twelve month low of $52.60 and a twelve month high of $86.37. The company has a quick ratio of 2.53, a current ratio of 2.92 and a debt-to-equity ratio of 0.28.

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

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

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Newmont by 0.4% in the third quarter. BlackRock Inc. now owns 92,169,488 shares of the basic materials company’s stock worth $5,004,805,000 after acquiring an additional 387,477 shares during the last quarter. State Street Corp grew its stake in shares of Newmont by 1.6% in the fourth quarter. State Street Corp now owns 40,349,321 shares of the basic materials company’s stock worth $2,502,465,000 after acquiring an additional 616,798 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Newmont by 6.0% in 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 acquiring an additional 2,256,671 shares during the last quarter. Flossbach Von Storch AG grew its stake in shares of Newmont by 0.9% in the fourth quarter. Flossbach Von Storch AG now owns 17,186,588 shares of the basic materials company’s stock worth $1,065,912,000 after acquiring an additional 147,793 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Newmont by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 12,994,833 shares of the basic materials company’s stock worth $803,531,000 after acquiring an additional 330,167 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the company. Canaccord Genuity Group lowered their price objective on Newmont from $87.00 to $80.00 in a research report on Tuesday, April 26th. National Bank Financial downgraded Newmont from an “outperform” rating to a “sector perform” rating and set a $94.28 price objective for the company. in a research report on Wednesday, April 20th. They noted that the move was a valuation call. TD Securities lowered their price objective on Newmont from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, April 25th. Jefferies Financial Group boosted their price objective on Newmont from $67.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, March 9th. Finally, Credit Suisse Group downgraded Newmont from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.26.

Newmont Company Profile (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.

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