Thomas Ronald Palmer Sells 20,000 Shares of Newmont Co. (NYSE:NEM) Stock

Newmont Co. (NYSE:NEM) CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Thomas Ronald Palmer sold 20,000 shares of Newmont stock. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00.
• On Thursday, August 1st, Thomas Ronald Palmer sold 20,000 shares of Newmont stock. The stock was sold at an average price of $49.51, for a total value of $990,200.00.

Newmont Stock Down 1.5 %

Shares of Newmont stock traded down $0.80 on Thursday, reaching $53.20. The stock had a trading volume of 5,583,066 shares, compared to its average volume of 10,384,679. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $61.35 billion, a P/E ratio of -20.22, a P/E/G ratio of 0.47 and a beta of 0.49. The company has a 50 day moving average price of $51.23 and a 200 day moving average price of $44.69. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $56.30.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. Newmont’s revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Co. will post 2.88 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Newmont’s payout ratio is -37.45%.

Institutional Investors Weigh In On Newmont

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after buying an additional 1,289,084 shares during the period. Northern Trust Corp grew its holdings in shares of Newmont by 25.9% during the fourth quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock valued at $537,594,000 after buying an additional 2,671,774 shares during the last quarter. Legal & General Group Plc increased its position in shares of Newmont by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after acquiring an additional 109,084 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Bank of America boosted their price target on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.62.

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.