Newmont Co. (NYSE:NEM) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Newmont Co. (NYSE:NEM) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,747 shares of the basic materials company’s stock after purchasing an additional 17,070 shares during the quarter. Handelsbanken Fonder AB’s holdings in Newmont were worth $22,542,000 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 the stock. LRI Investments LLC acquired a new stake in shares of Newmont in the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in Newmont in the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont during the 2nd quarter valued at $27,000. Heritage Wealth Advisors increased its position in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of Newmont in the 1st quarter worth $35,000. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NEM. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. BMO Capital Markets lifted their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.31.

Newmont Stock Up 0.3 %

NYSE NEM traded up $0.14 during trading on Friday, reaching $53.34. 6,114,716 shares of the company’s stock were exchanged, compared to its average volume of 10,362,430. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $56.30. The company’s fifty day simple moving average is $51.51 and its 200-day simple moving average is $44.96. The firm has a market capitalization of $61.51 billion, a PE ratio of -19.98, a P/E/G ratio of 0.47 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. Sell-side analysts predict that Newmont Co. will post 2.88 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. Newmont’s dividend payout ratio is currently -37.45%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by corporate insiders.

Newmont Company 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.