Andra AP fonden Makes New Investment in Newmont Corporation $NEM

Andra AP fonden bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,100 shares of the basic materials company’s stock, valued at approximately $1,404,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEM. Brighton Jones LLC grew its position in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Newmont by 133.7% in the first quarter. Penserra Capital Management LLC now owns 6,961 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 3,982 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Newmont by 226.8% in the 1st quarter. TD Private Client Wealth LLC now owns 4,079 shares of the basic materials company’s stock worth $197,000 after buying an additional 2,831 shares during the period. Brown Advisory Inc. lifted its holdings in Newmont by 0.4% during the 1st quarter. Brown Advisory Inc. now owns 71,873 shares of the basic materials company’s stock valued at $3,470,000 after buying an additional 319 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in Newmont by 70.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 23,745 shares of the basic materials company’s stock valued at $1,146,000 after buying an additional 9,827 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. UBS Group upped their target price on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. BNP Paribas Exane raised their price objective on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $86.92.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock worth $906,799 in the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $83.39 on Friday. The firm’s fifty day simple moving average is $83.14 and its two-hundred day simple moving average is $67.55. The firm has a market capitalization of $91.00 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 0.33. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

About Newmont

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.