Swedbank AB Buys 24,728 Shares of Newmont Corporation $NEM

Swedbank AB lifted its stake in Newmont Corporation (NYSE:NEM) by 3.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 732,277 shares of the basic materials company’s stock after buying an additional 24,728 shares during the period. Swedbank AB’s holdings in Newmont were worth $79,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEM. Apella Capital LLC grew its position in Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC boosted its stake in shares of Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares during the period. Novem Group grew its holdings in shares of Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the last quarter. Norden Group LLC increased its stake in shares of Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Wexler sold 13,378 shares of Newmont 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 $1,473,051.58. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 28,556 shares of company stock worth $3,058,146 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEM. Raymond James Financial cut their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. BMO Capital Markets lowered their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. BNP Paribas Exane dropped their target price on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. Argus raised their target price on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group reduced their price target on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.78.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies reiterated a Buy rating on Newmont and still sees upside even after trimming its price target to $146, which supports the stock’s long-term valuation case. Benzinga source
• Positive Sentiment: Recent coverage highlighted Newmont as a leader among gold stocks, with commentary pointing to higher gold prices as a potential driver of earnings and share performance. Article title
• Positive Sentiment: Analyst and market recaps note Newmont’s strong operating profile, including a recent earnings beat and continued investor interest in the gold miner. Article title

Newmont Stock Down 3.3%

Shares of NYSE NEM opened at $94.95 on Wednesday. The firm has a fifty day simple moving average of $105.35 and a two-hundred day simple moving average of $110.83. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $101.36 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.46.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities analysts expect that Newmont Corporation will post 9.87 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 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.