Harry M. Iv Conger Buys 9,498 Shares of Newmont Co. (NYSE:NEM) Stock

Newmont Co. (NYSE:NEMGet Free Report) Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Newmont Price Performance

Shares of Newmont stock opened at $41.57 on Wednesday. The business’s fifty day moving average price is $48.54 and its 200 day moving average price is $47.46. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $47.33 billion, a P/E ratio of -27.35, a PEG ratio of 0.35 and a beta of 0.49.

Newmont (NYSE:NEMGet Free Report) last issued its earnings results 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 firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue for the quarter 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, research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.41%. Newmont’s dividend payout ratio is currently -65.79%.

Institutional Investors Weigh In On Newmont

A number of large investors have recently modified their holdings of NEM. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont during the 2nd quarter worth $27,000. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter valued at about $27,000. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the third quarter worth about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NEM. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

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Newmont Company Profile

(Get Free Report)

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.

Further Reading

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

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