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

Swedbank AB grew its stake in Newmont Co. (NYSE:NEM) by 13.1% during the third quarter, HoldingsChannel reports. The firm owned 756,240 shares of the basic materials company’s stock after purchasing an additional 87,537 shares during the quarter. Swedbank AB’s holdings in Newmont were worth $40,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in Newmont in the 1st quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new position in Newmont during the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in Newmont during the second quarter worth about $27,000. Hoese & Co LLP purchased a new stake in Newmont in the 3rd quarter valued at approximately $27,000. Finally, Avior Wealth Management LLC increased its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $42.46 on Tuesday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The stock has a market cap of $48.34 billion, a PE ratio of -27.93, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. The business’s fifty day moving average price is $50.01 and its two-hundred day moving average price is $47.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue was up 84.7% on a year-over-year basis. On average, analysts forecast that Newmont Co. will post 3.09 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of analyst reports. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday. Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

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.