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

Newmont Mining Corp (NYSE:NEM) insider Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $32.88, for a total transaction of $41,100.00. Following the sale, the insider now owns 129,110 shares in the company, valued at approximately $4,245,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Thursday, November 1st, Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock. The stock was sold at an average price of $31.51, for a total transaction of $39,387.50.
  • On Monday, October 1st, Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock. The stock was sold at an average price of $30.20, for a total transaction of $37,750.00.

Shares of NYSE:NEM opened at $33.39 on Friday. Newmont Mining Corp has a 52 week low of $29.06 and a 52 week high of $42.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.02 and a current ratio of 4.70. The firm has a market capitalization of $17.40 billion, a PE ratio of 22.87 and a beta of 0.27.

Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.11. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. On average, sell-side analysts forecast that Newmont Mining Corp will post 1.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.56 annualized dividend and a yield of 1.68%. Newmont Mining’s dividend payout ratio (DPR) is 38.36%.

NEM has been the topic of a number of recent research reports. Credit Suisse Group set a $49.00 price target on shares of Newmont Mining and gave the stock a “buy” rating in a research note on Friday, November 9th. BMO Capital Markets restated a “buy” rating and issued a $46.00 target price on shares of Newmont Mining in a research note on Friday, September 21st. ValuEngine upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c” rating in a research note on Thursday, October 4th. Finally, TD Securities boosted their target price on shares of Newmont Mining from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $41.27.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dupont Capital Management Corp lifted its position in 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 worth $259,000 after buying an additional 1,916 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Newmont Mining during the 2nd quarter worth about $273,000. Private Advisor Group LLC acquired a new position in Newmont Mining during the 3rd quarter worth about $225,000. Levin Capital Strategies L.P. acquired a new position in Newmont Mining during the 3rd quarter worth about $226,000. Finally, Exane Asset Management acquired a new position in Newmont Mining during the 3rd quarter worth about $255,000. Institutional investors and hedge funds own 83.98% of the company’s stock.

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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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