On August 1, 2024, Thomas Palmer, President & CEO of Newmont Corp (NEM, Financial), executed a sale of 20,000 shares of the company at a price of $49.51 per share. This transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 311,469 shares of Newmont Corp.
Newmont Corp is a leading gold mining company with a significant presence in the copper, silver, lead, and zinc industries. The company's operations span across North America, South America, Australia, and Africa, making it one of the largest gold producers globally.
Over the past year, Thomas Palmer has sold a total of 66,000 shares of Newmont Corp and has not made any purchases of the stock. This recent transaction 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.
The shares of Newmont Corp were trading at $49.51 on the day of the sale, giving the company a market cap of approximately $53.96 billion. According to the GF Value, the intrinsic value estimate for Newmont Corp is $44.82 per share, suggesting that the stock is Fairly Valued with a price-to-GF-Value ratio of 1.1.
The GF Value is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might be of interest to current and potential investors as they evaluate their positions in Newmont Corp, considering the company's valuation and the recent trading activity by one of its top executives.
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.
