Insider Selling: Newmont Co. (NYSE:NEM) Director Sells 2,077 Shares of Stock

Newmont Co. (NYSE:NEM - Get Free Report) Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company's stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Newmont Price Performance

NYSE:NEM traded up $1.02 during trading hours on Tuesday, hitting $40.19. 11,363,374 shares of the stock traded hands, compared to its average volume of 8,537,674. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market cap of $45.75 billion, a price-to-earnings ratio of -26.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The stock has a 50 day moving average price of $40.61 and a 200 day moving average price of $46.91.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $4.67 billion. During the same period in the prior year, the firm earned $0.36 EPS. Newmont's revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Analyst Ratings Changes

A number of analysts have recently commented on NEM shares. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an "underperform" rating for the company. CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research note on Thursday, October 24th. Finally, Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.80.

Hedge Funds Weigh In On Newmont

Hedge funds have recently modified their holdings of the stock. Waverton Investment Management Ltd lifted its holdings in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after buying an additional 18,722 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of 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 buying an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC purchased a new position in shares of Newmont in the third quarter worth $1,263,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Newmont by 99.8% in the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company's stock worth $32,138,000 after buying an additional 300,400 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.