Newmont Sees Unusually High Options Volume (NYSE:NEM)

Newmont Co. (NYSE:NEM) saw some unusual options trading on Monday. Stock investors bought 51,593 call options on the company. This represents an increase of 46% compared to the typical volume of 35,327 call options.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont 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 sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $547,690.00. Following the sale, the chief executive officer now directly owns 331,469 shares in the company, valued at approximately $13,964,788.97. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock worth $2,744,700 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Several institutional investors and hedge funds have recently modified their holdings of NEM. Clearbridge Investments LLC grew its holdings in shares of Newmont by 12.6% during the 4th quarter. Clearbridge Investments LLC now owns 31,919 shares of the basic materials company’s stock valued at $1,321,000 after acquiring an additional 3,575 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Newmont by 47.8% during the 4th quarter. Corient Private Wealth LLC now owns 80,294 shares of the basic materials company’s stock valued at $3,323,000 after acquiring an additional 25,976 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Newmont during the 4th quarter valued at $269,000. EverSource Wealth Advisors LLC grew its holdings in shares of Newmont by 417.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,869 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 1,508 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Newmont by 2.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 136,414 shares of the basic materials company’s stock worth $5,646,000 after purchasing an additional 2,918 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group boosted their target price on Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. BMO Capital Markets boosted their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America boosted their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Finally, Cibc World Mkts raised 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 two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $52.62.

Newmont Trading Up 0.0 %

NYSE NEM traded up $0.01 on Monday, hitting $54.48. 8,432,785 shares of the stock were exchanged, compared to its average volume of 10,443,314. Newmont has a 52-week low of $29.42 and a 52-week high of $55.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company has a market capitalization of $62.82 billion, a price-to-earnings ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. The company’s 50-day moving average price is $50.10 and its two-hundred day moving average price is $43.61.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the company posted $0.33 EPS. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. Research analysts predict that Newmont will post 2.82 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

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.