Danske Bank A S Purchases New Stake in Newmont Corporation $NEM

Danske Bank A S bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel.com reports. The fund bought 993,564 shares of the basic materials company’s stock, valued at approximately $92,799,000.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Pinnacle Bancorp Inc. acquired a new stake in Newmont in the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont during the first quarter worth about $25,000. Clearstead Trust LLC acquired a new position in shares of Newmont during the second quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont in the fourth quarter worth about $26,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Newmont by 312.1% in the fourth 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. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. BMO Capital Markets dropped their target price on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. UBS Group lowered their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Argus set a $110.00 price objective on shares of Newmont in a research note on Monday, August 3rd. Citigroup reduced their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Raymond James Financial decreased their target price on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $132.59.

Insider Transactions at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 3.6%

NYSE:NEM opened at $115.99 on Wednesday. The stock has a market cap of $122.22 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The business’s 50-day simple moving average is $99.71 and its 200 day simple moving average is $108.70.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the firm earned $1.43 EPS. As a group, sell-side analysts predict that Newmont Corporation will post 9 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Newmont 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.