Avanza Fonder AB Increases Stake in Newmont Corporation $NEM

Avanza Fonder AB increased its stake in Newmont Corporation (NYSE:NEM) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,722 shares of the basic materials company’s stock after acquiring an additional 10,921 shares during the period. Avanza Fonder AB’s holdings in Newmont were worth $12,154,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Newmont during the second quarter worth approximately $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after buying an additional 4,839,447 shares during the period. Boston Partners boosted its holdings in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after acquiring an additional 4,532,263 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after acquiring an additional 2,723,044 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Newmont by 106.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after acquiring an additional 2,146,905 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM opened at $97.94 on Tuesday. The firm has a market cap of $106.55 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.74 and a beta of 0.39. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $118.14 and its two-hundred day moving average is $99.90. Newmont Corporation has a 52-week low of $42.93 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a yield of 1.1%. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is 16.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stifel Nicolaus raised their price objective on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce decreased their target price on Newmont from $71.00 to $67.00 in a report on Friday, February 27th. Raymond James Financial increased their target price on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Finally, Jefferies Financial Group lifted their price target on shares of Newmont from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $134.10.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00. Following the transaction, the executive vice president owned 55,315 shares of the company’s stock, valued at approximately $5,974,020. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is currently owned by insiders.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks highlights Newmont as one of two basic-materials names showing positive earnings momentum (Earnings ESP), reinforcing expectations for continuing earnings surprises after Newmont’s recent quarter beat. Read More.
• Positive Sentiment: Heightened investor attention: Zacks reports Newmont is one of the most-searched names recently, which can drive intraday interest and trading flows. Read More.
• Neutral Sentiment: Dividend mechanics update for Australian CHESS/CDI holders: Newmont posted currency-exchange details for its ASX/CHESS dividend notification — administrative but clarifies cash flows for Australian investors. Read More.
• Neutral Sentiment: Executive share sales disclosed as pre-planned trades: Newmont announced a planned trading sale by EVP Peter Toth, which the company frames as routine and pre-arranged. Such plan-based sales are less likely to signal negative private information. Read More.
• Negative Sentiment: Falling gold prices are pressuring miners broadly — Barron’s notes gold has erased YTD gains and is dragging mining stocks lower, a primary headwind for Newmont’s revenue outlook and sentiment. Read More.
• Negative Sentiment: Analyst pressure: Scotiabank cut its Newmont price target to $151 and other outlets reported an analyst downgrade that previously knocked shares lower — analyst revisions can cap upside until commodity trends stabilize. Read More. Read More.
• Negative Sentiment: Insider selling reported: separate filings show an EVP sold roughly $324k of stock; while not uncommon, active insider sales can weigh on near-term sentiment. Read More.

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.