On October 2, 2023, Robert Atkinson, the Executive Vice President and Chief Operating Officer of Newmont Corp (NEM, Financial), sold 5,500 shares of the company. This move is part of a trend for the insider, who over the past year has sold a total of 30,543 shares and made no purchases.
Newmont Corp is a leading gold mining company with operations in various parts of the world, including North America, South America, Australia, and Africa. The company is known for its strong commitment to safety, sustainability, and integrity. With a market cap of $28.13 billion, Newmont Corp is a significant player in the global mining industry.
The insider's recent sell comes at a time when there have been no insider buys over the past year, but 24 insider sells. This could be an indication of the insider's perception of the company's future prospects. However, it's important to note that insider selling does not necessarily imply a negative outlook. Insiders may sell shares for various reasons, including personal financial planning or portfolio diversification.
On the day of the insider's recent sell, shares of Newmont Corp were trading at $36.47. This gives the stock a price-to-GF-Value ratio of 0.53, suggesting that the stock is a possible value trap. Investors should think twice before making a decision based on this ratio alone.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance from Morningstar analysts. With a GF Value of $68.73, Newmont Corp's stock appears to be undervalued at its current price.
In conclusion, the insider's recent sell of Newmont Corp shares, along with the company's current valuation, suggests that potential investors should exercise caution. While the stock appears to be undervalued based on its GF Value, the lack of insider buys and the number of insider sells over the past year could be a cause for concern.
