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 stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, August 1st, Thomas Ronald Palmer sold 20,000 shares of Newmont stock. The shares were sold at an average price of $49.51, for a total value of $990,200.00.
• On Monday, July 1st, Thomas Ronald Palmer sold 13,000 shares of Newmont stock. The shares were sold at an average price of $42.13, for a total value of $547,690.00.

Newmont Stock Up 0.6 %

Shares of Newmont stock traded up $0.30 during trading on Thursday, hitting $51.91. 5,911,597 shares of the stock traded hands, compared to its average volume of 10,595,176. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $48.06 and its 200 day simple moving average is $41.81. The firm has a market cap of $59.86 billion, a P/E ratio of -19.55, a price-to-earnings-growth ratio of 0.39 and a beta of 0.47. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $53.88.

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 business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities analysts predict that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Institutional Trading of Newmont

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in shares of Newmont in the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont in the second quarter worth $25,000. Manchester Capital Management LLC grew its holdings in Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Newmont during the second quarter worth $27,000. Finally, Heritage Wealth Advisors lifted its holdings in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NEM. Jefferies Financial Group boosted their price objective on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Bank of America increased their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Sanford C. Bernstein dropped their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.