Insider Selling: Newmont Co. (NYSE:NEM) Director Sells $83,080.00 in Stock

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Newmont Stock Up 0.7 %

Shares of NYSE:NEM opened at $41.67 on Friday. The firm has a market capitalization of $47.44 billion, a P/E ratio of -27.41, a P/E/G ratio of 0.31 and a beta of 0.50. The stock has a 50 day moving average price of $40.43 and a 200-day moving average price of $46.86. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities research analysts anticipate that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont’s dividend payout ratio is presently -65.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NEM. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $59.00 to $55.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NEM. Waverton Investment Management Ltd raised its stake in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares during the period. Sanctuary Advisors LLC raised its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares in the last quarter. Nordea Investment Management AB grew its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC bought a new position in shares of Newmont during the 3rd quarter valued at approximately $1,263,000. Finally, Moody National Bank Trust Division raised its stake in shares of Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 2,645 shares during the period. Institutional investors own 68.85% of the company’s stock.

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.