Handelsbanken Fonder AB Sells 117,103 Shares of Newmont Corporation $NEM

Handelsbanken Fonder AB lowered its position in shares of Newmont Corporation (NYSE:NEM) by 21.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,507 shares of the basic materials company’s stock after selling 117,103 shares during the quarter. Handelsbanken Fonder AB’s holdings in Newmont were worth $39,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fulcrum Equity Management grew its position in shares of Newmont by 30.1% in the 2nd quarter. Fulcrum Equity Management now owns 2,599 shares of the basic materials company’s stock worth $243,000 after buying an additional 601 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Newmont during the second quarter worth about $381,000. Financial Management Professionals Inc. boosted its stake in Newmont by 95.1% during the second quarter. Financial Management Professionals Inc. now owns 517 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 252 shares in the last quarter. World Equity Group Inc. purchased a new stake in Newmont in the second quarter worth about $206,000. Finally, Allied Private Wealth LLC purchased a new stake in Newmont in the second quarter worth about $47,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by insiders.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Nevada dispute settled: Newmont and Barrick agreed to resolve their longstanding Nevada Gold Mines disagreements through a deal reportedly valued at approximately $1.95 billion. The agreement includes the contribution of previously excluded properties and eliminates outstanding disputes, reducing legal and operational uncertainty for Newmont. Barrick, Newmont settle dispute with $1.95B deal
• Positive Sentiment: Cash and strategic flexibility: The settlement provides Newmont with a significant financial benefit while restructuring the joint venture to potentially maximize the value of its Nevada assets. Newmont also consented to Barrick’s proposed North American gold IPO, removing a major obstacle to the transaction. Barrick and Newmont Reach Agreement Regarding Nevada Gold Mines Joint Venture
• Neutral Sentiment: Analyst view remains constructive: Newmont received a consensus “Moderate Buy” rating, indicating that analysts generally see upside potential, though the rating is not uniformly bullish. Newmont Receives Consensus Rating of Moderate Buy
• Negative Sentiment: Near-term earnings concern: Zacks issued a bearish estimate for Newmont’s third-quarter results. That outlook could limit gains if investors begin pricing in weaker production, costs, or profitability despite the favorable Nevada settlement. Zacks Research Has Bearish Estimate for Newmont Q3 Earnings

Newmont Price Performance

NYSE NEM opened at $117.17 on Wednesday. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88. The stock has a 50-day moving average of $98.25 and a 200 day moving average of $109.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market capitalization of $123.46 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.31 and a beta of 0.47.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the firm posted $1.43 EPS. On average, sell-side analysts forecast that Newmont Corporation will post 9 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio is 13.13%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEM. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. TD upgraded Newmont from a “hold” rating to a “buy” rating and lowered their price objective for the company from $129.00 to $127.00 in a research note on Tuesday, July 14th. Raymond James Financial dropped their target price on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Canaccord Genuity Group cut their target price on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Finally, UBS Group reduced their price target on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.11.

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.