On November 1, 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 series of insider transactions that have been taking place over the past year.
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 robust portfolio of assets, superior operational execution, and strong financial position. Newmont Corp is committed to creating value for its shareholders through disciplined capital allocation and a strong focus on environmental, social, and governance (ESG) practices.
Over the past year, the insider has sold a total of 33,043 shares and has not made any purchases. This trend is reflected in the company's overall insider transactions, with 24 insider sells and 0 insider buys over the same period.
The relationship between insider transactions and stock price is often closely watched by investors. In the case of Newmont Corp, the stock was trading at $37.6 per share on the day of the insider's recent sell, giving the company a market cap of $31.01 billion.
The GuruFocus Value of Newmont Corp is $59.88, resulting in a price-to-GF-Value ratio of 0.63. This suggests that the stock is a possible value trap, and investors should think twice before making a decision.
The GF Value is a proprietary estimate of intrinsic value developed by GuruFocus, based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts. In the case of Newmont Corp, the GF Value suggests that the stock may be overvalued at its current price.
In conclusion, the recent sell by the insider, along with the overall trend of insider sells over the past year, may raise some concerns for potential investors. However, it's important to consider other factors such as the company's financial health, market conditions, and the GF Value before making an investment decision.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
