Nordea Investment Management AB Decreases Stake in Newmont Corporation $NEM

Nordea Investment Management AB decreased its position in Newmont Corporation (NYSE:NEM) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,220,062 shares of the basic materials company’s stock after selling 5,775 shares during the period. Nordea Investment Management AB owned 0.29% of Newmont worth $184,703,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NEM. Nuveen LLC purchased a new stake in shares of Newmont during the 1st quarter worth approximately $306,507,000. Pacer Advisors Inc. increased its stake in shares of Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after purchasing an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Newmont by 2,003.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after purchasing an additional 1,506,010 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 in the last three months. Company insiders own 0.05% of the company’s stock.

Newmont Stock Down 7.6%

Shares of NYSE:NEM opened at $90.76 on Friday. The firm has a fifty day moving average price of $79.24 and a two-hundred day moving average price of $63.97. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.07 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Royal Bank Of Canada upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. UBS Group raised their price objective on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday. Raymond James Financial set a $96.00 price objective on shares of Newmont in a report on Friday, October 10th. Finally, BNP Paribas Exane raised their price objective on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.59.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.