Handelsbanken Fonder AB Grows Stock Position in Newmont Co. (NYSE:NEM)

Handelsbanken Fonder AB increased its position in shares of Newmont Co. (NYSE:NEM) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 476,414 shares of the basic materials company’s stock after buying an additional 54,667 shares during the quarter. Handelsbanken Fonder AB’s holdings in Newmont were worth $17,732,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NEM. Sequoia Financial Advisors LLC raised its position in shares of Newmont by 35.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock valued at $715,000 after buying an additional 3,498 shares during the period. Eastern Bank acquired a new stake in Newmont in the 3rd quarter valued at approximately $202,000. International Assets Investment Management LLC increased its holdings in Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Newmont by 3.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 235,626 shares of the basic materials company’s stock valued at $12,594,000 after purchasing an additional 7,191 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in Newmont in the 3rd quarter valued at approximately $9,920,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $45.25 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $41.56 and a 200 day moving average price of $46.46. The company has a market cap of $51.52 billion, a P/E ratio of -29.77, a PEG ratio of 0.40 and a beta of 0.52. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Sell-side analysts predict that Newmont Co. will post 3.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NEM shares. Bernstein Bank lifted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.37.

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.