Newmont Co. (NYSE:NEM) CEO Thomas Ronald Palmer Sells 13,000 Shares

Newmont Co. (NYSE:NEM) CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Newmont Stock Performance

Shares of NEM opened at $43.42 on Thursday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92. The stock has a market capitalization of $50.07 billion, a P/E ratio of -16.26, a P/E/G ratio of 0.35 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The company’s fifty day moving average is $41.83 and its two-hundred day moving average is $38.11.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, sell-side analysts predict that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Newmont’s payout ratio is -37.45%.

Institutional Investors Weigh In On Newmont

Institutional investors have recently modified their holdings of the company. LRI Investments LLC acquired a new position in Newmont during the first quarter worth $25,000. Life Planning Partners Inc acquired a new stake in Newmont in the fourth quarter valued at $26,000. Manchester Capital Management LLC increased its position in shares of Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Newmont during the 4th quarter worth $34,000. Finally, Heritage Wealth Advisors boosted its position in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Bank of America lifted their price target on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Sanford C. Bernstein dropped their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Finally, Scotiabank upped their price target on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $49.13.

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.