Tredje AP fonden Grows Position in Newmont Corporation $NEM

Tredje AP fonden increased its position in shares of Newmont Corporation (NYSE:NEM) by 33.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 96,316 shares of the basic materials company’s stock after purchasing an additional 23,970 shares during the quarter. Tredje AP fonden’s holdings in Newmont were worth $9,617,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in shares of Newmont during the 4th quarter worth about $25,000. Physician Wealth Advisors Inc. lifted its holdings in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Newmont during the 3rd quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont during the 4th quarter valued at about $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 4.5%

NYSE:NEM opened at $104.94 on Wednesday. Newmont Corporation has a one year low of $50.79 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market cap of $112.03 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.57 and a beta of 0.43. The firm has a 50-day simple moving average of $111.60 and a 200-day simple moving average of $107.63.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s payout ratio is currently 13.49%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. Argus lifted their price objective on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada lifted their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Jefferies Financial Group lifted their price objective on shares of Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 10th. Finally, Scotiabank decreased their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.51.

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.