Thomas Ronald Palmer Sells 1,250 Shares of Newmont Mining Corp (NEM) Stock

Newmont Mining Corp (NYSE:NEM) COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Friday, December 1st. The shares were sold at an average price of $36.98, for a total value of $46,225.00. Following the completion of the sale, the chief operating officer now directly owns 85,612 shares of the company’s stock, valued at approximately $3,165,931.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, November 1st, Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock. The shares were sold at an average price of $36.44, for a total value of $45,550.00.
  • On Monday, October 2nd, Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock. The shares were sold at an average price of $37.35, for a total value of $46,687.50.

Shares of Newmont Mining Corp (NEM) opened at $36.20 on Wednesday. Newmont Mining Corp has a 1 year low of $30.40 and a 1 year high of $39.63. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $19,648.12, a PE ratio of 26.50 and a beta of 0.10.

Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Newmont Mining had a return on equity of 6.20% and a net margin of 1.18%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. research analysts expect that Newmont Mining Corp will post 1.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, December 7th. Newmont Mining’s payout ratio is 200.00%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sun Life Financial INC lifted its stake in shares of Newmont Mining by 43,144.4% in the second quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 3,883 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of Newmont Mining in the third quarter worth about $222,000. Timber Hill LLC acquired a new position in shares of Newmont Mining in the third quarter worth about $260,000. Veritable L.P. lifted its stake in shares of Newmont Mining by 4.6% in the second quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 370 shares in the last quarter. Finally, First Allied Advisory Services Inc. acquired a new position in shares of Newmont Mining in the third quarter worth about $354,000. 81.99% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on NEM shares. TheStreet raised Newmont Mining from a “c+” rating to a “b” rating in a research report on Wednesday, October 11th. BMO Capital Markets set a $45.00 price target on Newmont Mining and gave the company a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, October 18th. Royal Bank Of Canada reissued a “hold” rating and set a $43.00 price target on shares of Newmont Mining in a research report on Tuesday. Finally, FBR & Co set a $40.00 price target on Newmont Mining and gave the company a “hold” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Newmont Mining has an average rating of “Buy” and an average price target of $42.74.

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About Newmont Mining

Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.

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