Insider Selling: Newmont Mining Corp (NEM) CFO Sells 2,000 Shares of Stock

Newmont Mining Corp (NYSE:NEM) CFO Nancy Buese sold 2,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $31.51, for a total transaction of $63,020.00. Following the completion of the transaction, the chief financial officer now owns 64,499 shares of the company’s stock, valued at $2,032,363.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Nancy Buese also recently made the following trade(s):

  • On Monday, October 1st, Nancy Buese sold 2,000 shares of Newmont Mining stock. The stock was sold at an average price of $30.20, for a total transaction of $60,400.00.

Shares of Newmont Mining stock traded up $0.36 during trading hours on Friday, reaching $32.42. 5,260,770 shares of the company’s stock were exchanged, compared to its average volume of 7,136,223. Newmont Mining Corp has a 1 year low of $29.06 and a 1 year high of $42.04. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 22.21 and a beta of 0.22. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36.

Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.11. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.80 billion. On average, research analysts anticipate that Newmont Mining Corp will post 1.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s payout ratio is 38.36%.

NEM has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Newmont Mining in a report on Wednesday, October 10th. They issued an “overweight” rating and a $34.00 price target for the company. Citigroup cut their price target on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. Canaccord Genuity set a $40.00 price target on shares of Newmont Mining and gave the stock a “hold” rating in a report on Tuesday, July 24th. Raymond James cut their price target on shares of Newmont Mining from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Finally, Zacks Investment Research lowered shares of Newmont Mining from a “hold” rating to a “strong sell” rating in a report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.64.

Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC acquired a new position in shares of Newmont Mining during the 3rd quarter valued at about $225,000. Levin Capital Strategies L.P. acquired a new position in shares of Newmont Mining during the 3rd quarter valued at about $226,000. Dupont Capital Management Corp boosted its position in shares of Newmont Mining by 38.7% during the 2nd quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock valued at $259,000 after acquiring an additional 1,916 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Newmont Mining during the 2nd quarter valued at about $273,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Newmont Mining during the 2nd quarter valued at about $335,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Mining Company Profile

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

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Insider Buying and Selling by Quarter for Newmont Mining (NYSE:NEM)

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