Newmont Target of Unusually High Options Trading (NYSE:NEM)

Newmont Corporation (NYSE:NEM) was the target of unusually large options trading activity on Tuesday. Investors acquired 71,740 call options on the company. This represents an increase of approximately 71% compared to the typical daily volume of 41,915 call options.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the transaction, the executive vice president owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director owned 43,103 shares in the company, valued at $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,231 shares of company stock worth $679,813. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First City Capital Management Inc. raised its stake in shares of Newmont by 8.8% during the 2nd quarter. First City Capital Management Inc. now owns 4,950 shares of the basic materials company’s stock valued at $288,000 after buying an additional 400 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Newmont by 198.4% during the second quarter. TD Private Client Wealth LLC now owns 12,170 shares of the basic materials company’s stock worth $709,000 after acquiring an additional 8,091 shares during the period. Mather Group LLC. raised its position in Newmont by 18.3% during the second quarter. Mather Group LLC. now owns 54,363 shares of the basic materials company’s stock valued at $3,167,000 after acquiring an additional 8,396 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in Newmont by 274.1% in the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 444 shares during the period. Finally, Ballentine Partners LLC boosted its position in Newmont by 17.5% in the 2nd quarter. Ballentine Partners LLC now owns 17,088 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 2,544 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEM shares. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a report on Tuesday, June 24th. UBS Group upped their price objective on Newmont from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. Finally, Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.49.

Newmont Price Performance

Shares of NEM opened at $57.39 on Wednesday. The company has a 50 day moving average of $55.55 and a two-hundred day moving average of $49.28. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. Newmont has a twelve month low of $36.86 and a twelve month high of $61.17. The company has a market cap of $63.87 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 0.69 and a beta of 0.33.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period in the prior year, the company posted $0.55 EPS. As a group, analysts predict that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is 22.42%.

Newmont Company Profile

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.