Arbejdsmarkedets Tillaegspension Takes $24.68 Million Position in Newmont Corporation $NEM

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in Newmont, buying 247,199 shares valued at about $24.68 million. The position makes Newmont its 15th-largest holding and about 0.6% of its portfolio.
• Newmont reported strong quarterly results, posting $2.90 EPS versus $2.07 expected and revenue of $7.31 billion versus $6.83 billion expected. Revenue rose 45.8% year over year, and analysts now expect full-year EPS of 9.72.
• The company also declared a quarterly dividend of $0.26, payable June 22, for an annualized yield of 0.9%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $142.51.

Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 247,199 shares of the basic materials company's stock, valued at approximately $24,683,000. Newmont comprises approximately 0.6% of Arbejdsmarkedets Tillaegspension's holdings, making the stock its 15th biggest position.

Several other institutional investors have also made changes to their positions in NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 236 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont in the 3rd quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont in the 4th quarter valued at approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

NEM opened at $116.32 on Friday. The stock has a market cap of $124.18 billion, a PE ratio of 15.09, a P/E/G ratio of 1.65 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. Newmont Corporation has a 1 year low of $48.40 and a 1 year high of $134.88. The stock's 50 day simple moving average is $112.16 and its 200-day simple moving average is $107.03.

Newmont (NYSE:NEM - Get Free Report) 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 analysts' consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont's quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. Sell-side analysts forecast that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

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

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. TD Securities reissued a "hold" rating and issued a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. Argus raised their price objective on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Macquarie Infrastructure raised their price objective on Newmont from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Scotiabank cut their price objective on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research note on Friday, March 20th. Finally, Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.51.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the sale, the executive vice president owned 49,315 shares of the company's stock, valued at $5,430,074.65. The trade was a 5.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,068 shares of company stock worth $4,769,475 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Newmont Company 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.

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