BI Asset Management Fondsmaeglerselskab A S Has $102.21 Million Holdings in Newmont Corporation $NEM

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,023,584 shares of the basic materials company's stock after selling 279,573 shares during the period. Newmont accounts for about 0.9% of BI Asset Management Fondsmaeglerselskab A S's investment portfolio, making the stock its 17th largest position. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.09% of Newmont worth $102,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position in shares of Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock valued at $20,259,000 after buying an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock valued at $30,775,000 after buying an additional 54,530 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock valued at $27,843,000 after buying an additional 183,360 shares during the period. Waverton Investment Management Ltd raised its position in shares of Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company's stock valued at $59,365,000 after buying an additional 23,139 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Newmont by 65.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 741,861 shares of the basic materials company's stock valued at $62,546,000 after buying an additional 293,901 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Wexler sold 13,378 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company's stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

NYSE NEM opened at $99.77 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 1 year low of $52.08 and a 1 year high of $134.88. The company has a market capitalization of $106.51 billion, a PE ratio of 12.94, a P/E/G ratio of 1.80 and a beta of 0.42. The company has a fifty day moving average of $111.70 and a two-hundred day moving average of $109.55.

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 the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Newmont's revenue for the quarter was up 45.8% on a year-over-year basis. As a group, analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Analysts Set New Price Targets

NEM has been the topic of several analyst reports. National Bank Financial lifted their price target on shares of Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. Royal Bank Of Canada cut their target price on Newmont from $160.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday. Stifel Nicolaus boosted their target price on Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Finally, TD Securities reissued a "hold" rating and issued a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.07.

About Newmont

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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