Livforsakringsbolaget Skandia Omsesidigt Acquires Shares of 222,422 Newmont Corporation $NEM

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Newmont Corporation (NYSE:NEM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 222,422 shares of the basic materials company’s stock, valued at approximately $20,763,000.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares in the last quarter. Coston McIsaac & Partners lifted its holdings in shares of Newmont by 28.6% during 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 during the period. Creative Financial Designs Inc. ADV lifted its holdings 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 period. Blue Trust Inc. boosted its stake in shares of Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after purchasing an additional 100 shares in the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Newmont by 4.2% in the 4th quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 102 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEM shares. Citigroup dropped their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Canaccord Genuity Group decreased their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Argus set a $110.00 target price on shares of Newmont in a research note on Monday, August 3rd. Finally, BMO Capital Markets cut their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.73.

Insider Activity at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 3rd. The stock was 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. This represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 over the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 3.4%

Shares of NYSE NEM opened at $127.84 on Friday. The firm’s 50-day simple moving average is $104.23 and its 200 day simple moving average is $109.57. The company has a market cap of $134.70 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $72.78 and a 12-month high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the company posted $1.43 EPS. On average, research analysts expect that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio is 13.13%.

Newmont Company 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.