Skandinaviska Enskilda Banken AB publ Buys 3,700 Shares of Newmont Co. (NYSE:NEM)

Skandinaviska Enskilda Banken AB publ boosted its stake in Newmont Co. (NYSE:NEM) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 229,147 shares of the basic materials company’s stock after buying an additional 3,700 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Newmont were worth $9,594,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pekin Hardy Strauss Inc. lifted its stake in shares of Newmont by 0.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock valued at $2,683,000 after purchasing an additional 233 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of Newmont by 2.3% during the 2nd quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock valued at $453,000 after buying an additional 244 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of Newmont by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after buying an additional 278 shares during the period. Moody National Bank Trust Division increased its stake in shares of Newmont by 1.7% in the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after acquiring an additional 296 shares in the last quarter. Finally, Crestmont Private Wealth LLC boosted its stake in Newmont by 4.9% during the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 319 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NEM shares. Bank of America raised their target price on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. UBS Group raised their price objective on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and boosted their target price for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $52.62.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,000 shares of company stock worth $2,744,700. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 1.8 %

Shares of NEM stock opened at $54.47 on Friday. The stock has a market capitalization of $62.81 billion, a P/E ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $50.10 and its 200 day moving average is $43.54. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $54.93.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. Research analysts expect that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Newmont 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.