AMF Tjanstepension AB Purchases 478,821 Shares of Newmont Corporation $NEM

AMF Tjanstepension AB raised its holdings in Newmont Corporation (NYSE:NEM) by 169.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 761,076 shares of the basic materials company’s stock after acquiring an additional 478,821 shares during the quarter. AMF Tjanstepension AB’s holdings in Newmont were worth $75,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in shares of Newmont in the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its holdings in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Newmont during the third quarter worth about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont during the fourth quarter worth about $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NYSE:NEM opened at $109.81 on Tuesday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $111.83 and its two-hundred day moving average price is $107.46. The firm has a market capitalization of $117.23 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.52 and a beta of 0.43. Newmont Corporation has a 12-month low of $49.99 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is currently 13.49%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen upgraded Newmont from a “buy” rating to a “strong-buy” rating in a report on Saturday. Bank of America upped their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Argus upped their target price on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. The Goldman Sachs Group upped their target price on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Stifel Nicolaus upped their target price on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.51.

Insiders Place Their Bets

In other Newmont news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the sale, the executive vice president owned 49,315 shares in the company, valued at $5,430,074.65. This represents a 5.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 43,068 shares of company stock worth $4,769,475 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Profile

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.