Maj Invest Holding A S Acquires Shares of 447,920 Newmont Corporation $NEM

Maj Invest Holding A S bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the second quarter, HoldingsChannel reports. The institutional investor bought 447,920 shares of the basic materials company’s stock, valued at approximately $9,362,000. Newmont comprises 0.4% of Maj Invest Holding A S’s portfolio, making the stock its 20th biggest holding.

Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC acquired a new position in Newmont in the first quarter valued at about $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the first quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the fourth quarter worth about $26,000. Clearstead Trust LLC bought a new position in Newmont in the 2nd quarter valued at about $25,000. Finally, Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Down 2.8%

NEM stock opened at $122.56 on Wednesday. The stock has a market capitalization of $129.14 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. 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 12 month low of $73.44 and a 12 month high of $135.29. The firm has a 50-day moving average price of $105.20 and a 200-day moving average price of $109.51.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the firm posted $1.43 EPS. As a group, equities research analysts anticipate that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NEM shares. The Goldman Sachs Group cut their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. BMO Capital Markets decreased their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. National Bank Financial cut their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.73.

Insiders Place Their Bets

In other Newmont news, 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 owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% 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 quarter, insiders have sold 25,209 shares of company stock valued at $2,567,701. 0.06% of the stock is currently owned by insiders.

Newmont 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.