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

Newmont Co. (NYSE:NEM) saw unusually large options trading activity on Friday. Traders acquired 57,822 call options on the stock. This is an increase of approximately 61% compared to the typical volume of 35,925 call options.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group lifted their target price on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. BMO Capital Markets lifted their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $54.85.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Peter Toth sold 3,000 shares of the firm’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 $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,000 shares of company stock valued at $3,434,640. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEM. Wealth Enhancement Advisory Services LLC increased its stake in shares of Newmont by 13.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock worth $5,004,000 after purchasing an additional 16,902 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Newmont during the 1st quarter worth about $207,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Newmont during the 1st quarter worth about $234,000. AMF Tjanstepension AB increased its stake in shares of Newmont by 7.9% during the 1st quarter. AMF Tjanstepension AB now owns 473,322 shares of the basic materials company’s stock worth $16,982,000 after purchasing an additional 34,634 shares during the last quarter. Finally, Citizens Business Bank acquired a new position in Newmont in the 1st quarter valued at about $596,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 1.7 %

NEM opened at $48.42 on Friday. The stock has a market capitalization of $55.56 billion, a P/E ratio of -22.84, a P/E/G ratio of 0.49 and a beta of 0.50. Newmont has a 12 month low of $29.42 and a 12 month high of $58.72. The firm’s fifty day simple moving average is $53.42 and its 200 day simple moving average is $46.76. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, research analysts anticipate that Newmont will post 3.07 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont’s dividend payout ratio (DPR) is presently -47.17%.

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.