Danske Bank A S Takes Position in Newmont Corporation $NEM

Danske Bank A S acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 993,564 shares of the basic materials company’s stock, valued at approximately $92,799,000. Danske Bank A S owned approximately 0.09% of Newmont at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEM. Novem Group grew its holdings in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after buying an additional 88 shares during the last quarter. Parkside Financial Bank & Trust lifted its position 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 valued at $714,000 after acquiring an additional 96 shares in the last quarter. Coston McIsaac & Partners lifted its position in shares of Newmont by 28.6% in the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Newmont by 6.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 100 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Newmont by 0.6% during the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NEM shares. Jefferies Financial Group cut their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Canadian Imperial Bank of Commerce set a $170.00 price target on shares of Newmont in a report on Friday. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.59.

Newmont Stock Performance

NYSE NEM opened at $115.99 on Wednesday. The business’s 50-day moving average price is $99.71 and its 200 day moving average price is $108.70. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $67.20 and a twelve month high of $134.88. The company has a market capitalization of $122.22 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the business earned $1.43 EPS. On average, research analysts predict that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. This represents a 6.93% 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. Over the last three months, insiders sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by company insiders.

About Newmont

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.