Newmont Co. (NYSE:NEM) Stake Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 492,206 shares of the basic materials company's stock after purchasing an additional 15,792 shares during the period. Handelsbanken Fonder AB's holdings in Newmont were worth $23,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. grew its holdings in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. Nexus Investment Management ULC purchased a new stake in Newmont in the 1st quarter worth $31,000. Redwood Park Advisors LLC acquired a new position in Newmont during the fourth quarter worth $37,000. Promus Capital LLC purchased a new position in Newmont during the fourth quarter valued at $38,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $43,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research reports. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and raised their target price for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Raymond James reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Price Performance

Newmont stock traded up $2.15 during mid-day trading on Thursday, reaching $55.46. The company had a trading volume of 5,451,706 shares, compared to its average volume of 10,245,656. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The company has a market capitalization of $61.73 billion, a P/E ratio of 18.93, a P/E/G ratio of 0.41 and a beta of 0.31. The stock's 50-day simple moving average is $52.51 and its 200-day simple moving average is $46.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business earned $0.55 earnings per share. On average, equities analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.80%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares of the company's stock, valued at $2,443,786.20. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by company insiders.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.