On July 1, 2024, Thomas Palmer, President & CEO of Newmont Corp (NEM, Financial), executed a sale of 13,000 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 331,469 shares of Newmont Corp.
Newmont Corp is a leading gold mining company with a portfolio that includes gold, copper, silver, zinc, and lead assets. The company operates mines in North America, South America, Australia, and Africa.
Over the past year, Thomas Palmer has sold a total of 57,000 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend observed within the company, where there have been 13 insider sells and no insider buys over the past year.
Shares of Newmont Corp were trading at $42.13 on the day of the sale. The company has a market cap of approximately $50.10 billion. According to the GF Value, the intrinsic value estimate for Newmont Corp is $44.88, suggesting that the stock is Fairly Valued with a price-to-GF-Value ratio of 0.94.
The GF Value is determined by historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This insider sale could be of interest to investors tracking insider behaviors as an indicator of confidence in the company's future prospects.
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.
