Newmont Co. (NYSE:NEM) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of Newmont Co. (NYSE:NEM) by 13.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 476,414 shares of the basic materials company’s stock after purchasing 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 and hedge funds also recently added to or reduced their stakes in NEM. Zurich Insurance Group Ltd FI acquired a new position in Newmont during the third quarter worth about $98,011,000. Nordea Investment Management AB grew its position in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the period. FMR LLC grew its position in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the period. International Assets Investment Management LLC grew its position in shares of Newmont by 6,387.0% in the third 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. Finally, Assenagon Asset Management S.A. grew its position in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after purchasing an additional 865,213 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on NEM shares. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Finally, Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $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 have sold a total of 28,154 shares of company stock valued at $1,166,843 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $45.25 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $51.52 billion, a P/E ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm’s 50 day moving average is $41.56 and its two-hundred day moving average is $46.46.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Analysts expect that Newmont Co. will post 3.11 EPS for the current year.

Newmont Announces Dividend

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

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.