Danica Pension Livsforsikringsaktieselskab Takes Position in Newmont Corporation $NEM

Key Points

• Danica Pension acquired 44,764 Newmont shares in the second quarter, valued at approximately $4.18 million. Institutional investors collectively own 68.85% of the company.
• Newmont reported quarterly EPS of $2.10, exceeding the $2.05 consensus estimate, although revenue of $6.12 billion fell short of expectations. The company declared a quarterly dividend of $0.26 per share, representing a 0.9% yield.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $132.59. Meanwhile, Newmont’s CEO and CFO sold shares under a pre-arranged trading plan.

Danica Pension Livsforsikringsaktieselskab bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 44,764 shares of the basic materials company's stock, valued at approximately $4,181,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Newmont in the 1st quarter worth approximately $25,000. Clearstead Trust LLC purchased a new position in shares of Newmont in the second quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in Newmont during the fourth quarter valued at approximately $26,000. Finally, Cornerstone Planning Group LLC grew its position in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after buying an additional 206 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 3.6%

Shares of NEM stock opened at $115.99 on Wednesday. The company has a market capitalization of $122.22 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.31 and a beta of 0.47. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88. The company's fifty day moving average price is $99.71 and its 200-day moving average price is $108.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. Sell-side analysts expect that Newmont Corporation will post 9 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NEM. BMO Capital Markets decreased their price target on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 23rd. Scotiabank upped their price objective on Newmont from $147.00 to $149.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. TD raised their target price on Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. TD Securities upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Finally, Citigroup cut their price target on Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $132.59.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by corporate insiders.

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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