Swedbank AB Sells 20,945 Shares of Newmont Corporation $NEM

Swedbank AB decreased its position in shares of Newmont Corporation (NYSE:NEM) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 732,837 shares of the basic materials company’s stock after selling 20,945 shares during the quarter. Swedbank AB owned about 0.07% of Newmont worth $61,785,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NEM. Norges Bank acquired a new stake in Newmont in the second quarter worth $919,170,000. Invesco Ltd. increased its position in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after buying an additional 4,839,447 shares in the last quarter. Boston Partners raised its stake in Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after acquiring an additional 4,399,778 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Newmont in the second quarter worth about $187,206,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $104.72 on Thursday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $105.73. The stock has a market capitalization of $114.27 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.73 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The business has a 50-day moving average of $89.95 and a 200-day moving average of $76.76.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is presently 15.53%.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,240 shares of company stock valued at $943,985. 0.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NEM shares. TD Securities lifted their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Argus upped their price target on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. UBS Group increased their price objective on shares of Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $96.37.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.