Swedbank AB Sells 25,288 Shares of Newmont Corporation $NEM

Swedbank AB trimmed its position in Newmont Corporation (NYSE:NEM) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 707,549 shares of the basic materials company’s stock after selling 25,288 shares during the quarter. Swedbank AB’s holdings in Newmont were worth $70,649,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after acquiring an additional 79,617 shares during the last quarter. Estate Counselors LLC purchased a new position in Newmont in the third quarter valued at about $4,182,000. AustralianSuper Pty Ltd boosted its stake in Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after acquiring an additional 183,360 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after acquiring an additional 44,846 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the 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 $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $107.74 on Friday. The stock has a market capitalization of $115.02 billion, a P/E ratio of 13.97, a PEG ratio of 1.54 and a beta of 0.43. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $111.03 and its 200 day moving average is $108.00. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced 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 1.0%. Newmont’s dividend payout ratio is currently 13.49%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. Scotiabank dropped their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. TD Securities restated a “hold” rating and set a $129.00 price target on shares of Newmont in a research note on Monday, April 27th. TD upped their price target on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Newmont from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.05.

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.