Newmont Corporation $NEM Holdings Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in Newmont Corporation (NYSE:NEM) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,682 shares of the basic materials company’s stock after acquiring an additional 19,667 shares during the period. Handelsbanken Fonder AB’s holdings in Newmont were worth $55,385,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Estate Counselors LLC purchased a new stake in Newmont in the 3rd quarter worth about $4,182,000. CWM LLC lifted its stake in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after acquiring an additional 79,617 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after acquiring an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after acquiring an additional 54,530 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after acquiring an additional 44,846 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the sale, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 43,068 shares of company stock worth $4,769,475 in the last 90 days. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America upped their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce dropped their target price on Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. TD Securities reaffirmed a “hold” rating and issued a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Stifel Nicolaus upped their target price on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, National Bank Financial upped their target price on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

Newmont Stock Performance

Shares of NYSE NEM opened at $109.81 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market cap of $117.23 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.52 and a beta of 0.43. The business’s 50-day simple moving average is $111.83 and its 200-day simple moving average is $107.46. Newmont Corporation has a 52 week low of $49.99 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, equities research analysts expect that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is presently 13.49%.

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.