Newmont Co. CEO Thomas Ronald Palmer Sells 11000 Shares of Stock on June 1st
June 16, 2023
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Newmont Corporation ($NYSE:NEM) is a leading gold and copper producer with operations in the United States, Australia, Ghana, Peru, Suriname, Indonesia, and Mexico. The company serves customers in the electronics, automotive, jewelry, and currency industries. It is the largest gold producer on the New York Stock Exchange. On Thursday, June 1st, 11000 shares of Newmont Co. stock were sold by the company’s CEO, Thomas Ronald Palmer, in a single transaction. The exact reason for Mr. Palmer’s sale of the stocks is unknown at this time.
However, it could be indicative of a broader trend among senior executives at the company who may be looking to cash out some of their stock holdings before any potential negative news that could have an impact on the stock price. It is important to note that this transaction alone is not necessarily an indication that the stock is due for a significant downward trend. However, investors should be aware of this development and keep an eye on the long-term performance of Newmont Co. stock to see if any further significant changes occur in the future.
Stock Price
This was reported in the NASDAQ closing bell and the price of the stock opened at $41.7 and closed at $41.9, representing a decrease of 0.4% from the previous closing price of $42.1. This is the second time that Palmer has sold stock this year, having previously done so in March. The amount of shares sold and the impact on the company’s stock price is yet to be seen. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Newmont Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 11.57k | -526 | 2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Newmont Corporation. More…
| Operations | Investing | Financing |
| 3.01k | -2.81k | -1.81k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Newmont Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 38.37k | 18.82k | 24.44 |
Key Ratios Snapshot
Some of the financial key ratios for Newmont Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.2% | -9.1% | 0.8% |
| FCF Margin | ROE | ROA |
| 6.8% | 0.3% | 0.1% |
Analysis
GoodWhale recently analyzed the financials of NEWMONT CORPORATION and we are pleased to say that their Risk Rating is low. This means that NEWMONT CORPORATION is a low risk investment in terms of financial and business aspects. Although we consider NEWMONT CORPORATION to be a low risk investment, we did detect two risk warnings in their income statement and balance sheet. With our GoodWhale platform, you can easily review the details of our assessment and identify these risk warnings. To do so, simply register on our website (goodwhale.com) and you will be able to access our comprehensive analysis. The GoodWhale platform is designed to provide insight into a company’s financial health and overall risk. We believe that by taking the time to review a company’s financials, investors can make more informed decisions when it comes to their investments. More…
Peers
Newmont Corp is one of the world’s leading gold miners. Its main competitors are Barrick Gold Corp, Agnico Eagle Mines Ltd, and Anglogold Ashanti Ltd. Newmont has a long history of successful gold mining operations, and is one of the largest gold producers in the world.
– Barrick Gold Corp ($TSX:ABX)
Barrick Gold Corporation is a gold mining company that has operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, Tanzania, and the United States. The Company produces and sells gold and copper, with gold mines that include Cortez, Goldstrike, and Turquoise Ridge. Barrick also has a joint venture with Newmont Corporation. The Company’s shares are traded on the Toronto Stock Exchange and the New York Stock Exchange.
– Agnico Eagle Mines Ltd ($TSX:AEM)
Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%. Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%.
– Anglogold Ashanti Ltd ($LTS:0HFY)
Anglogold Ashanti Ltd is a gold mining company with a market cap of 5.28B as of 2022. The company has a return on equity of 15.08%. Anglogold Ashanti Ltd is engaged in the exploration, development, and mining of gold properties. The company was founded in 1944 and is headquartered in Johannesburg, South Africa.
Summary
Newmont Corporation is an attractive investment opportunity due to its strong track record and potential for further growth. Additionally, Newmont has performed well in comparison to its peers in the mining sector. Investors should also consider the potential upside of the company’s imminent merger with Goldcorp, which is expected to provide further growth opportunities for Newmont shareholders.
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