Livforsakringsbolaget Skandia Omsesidigt Takes $20.76 Million Position in Newmont Corporation $NEM

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 222,422 shares of the basic materials company’s stock, valued at approximately $20,763,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. acquired a new position in shares of Newmont in the first quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Clearstead Trust LLC purchased a new stake in shares of Newmont in the second quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the 4th quarter worth about $26,000. Finally, Kilter Group LLC purchased a new position in Newmont during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NEM shares. National Bank Financial cut their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group lowered their price target on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Argus set a $110.00 price objective on shares of Newmont in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $132.73.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This trade represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,091 shares of company stock valued at $3,292,513 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 3.4%

Newmont stock opened at $127.84 on Friday. The firm has a market cap of $134.70 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a fifty-two week low of $72.78 and a fifty-two week high of $135.29. The firm has a fifty day moving average price of $104.23 and a two-hundred day moving average price of $109.57.

Newmont (NYSE:NEM) last issued 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period last year, the business posted $1.43 earnings per share. As a group, analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is currently 13.13%.

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.