Insider Buying: Newmont Co. (NYSE:NEM) Director Purchases 9,498 Shares of Stock

Newmont Co. (NYSE:NEM) Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Newmont Stock Performance

Shares of Newmont stock traded down $1.03 during trading on Monday, hitting $40.91. 12,521,048 shares of the stock were exchanged, compared to its average volume of 10,511,048. The stock’s fifty day moving average is $49.09 and its 200 day moving average is $47.49. The stock has a market cap of $46.57 billion, a PE ratio of -26.90, a P/E/G ratio of 0.36 and a beta of 0.51. 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 Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate 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 was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NEM shares. Jefferies Financial Group boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Hedge Funds Weigh In On Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Geode Capital Management LLC grew its position in Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after buying an additional 326,243 shares in the last quarter. Legal & General Group Plc grew its position in Newmont by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after buying an additional 109,084 shares in the last quarter. FMR LLC grew its position in Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after buying an additional 545,903 shares in the last quarter. 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.