Swedbank AB Boosts Holdings in Newmont Co. (NYSE:NEM)

Swedbank AB increased its position in shares of Newmont Co. (NYSE:NEM) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 756,240 shares of the basic materials company’s stock after buying an additional 87,537 shares during the quarter. Swedbank AB owned about 0.07% of Newmont worth $40,421,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Heathbridge Capital Management Ltd. boosted its stake in Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after buying an additional 200 shares during the period. E. Ohman J or Asset Management AB increased its holdings in Newmont by 0.4% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares during the last quarter. Fulton Bank N.A. raised its position in Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares during the period. Carmel Capital Partners LLC lifted its stake in Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC lifted its stake in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 2.1 %

NYSE:NEM opened at $42.46 on Tuesday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The stock has a market cap of $48.34 billion, a P/E ratio of -27.93, a P/E/G ratio of 0.38 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a 50-day simple moving average of $50.01 and a 200-day simple moving average of $47.51.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Newmont Co. will post 3.09 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, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.36%. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada decreased their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont 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 $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 over the last ninety days. 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.