Handelsbanken Fonder AB Trims Stock Holdings in Newmont Corporation $NEM

Key Points

• Handelsbanken Fonder cut its Newmont stake by 21.6% in the second quarter, selling 117,103 shares and retaining 425,507 shares valued at approximately $39.7 million. Institutional investors collectively own 68.85% of the company.
• Analysts remain broadly positive, with Newmont receiving a consensus “Moderate Buy” rating and an average price target of $132.11, despite several firms recently lowering their targets.
• Newmont exceeded quarterly EPS expectations, reporting $2.10 versus the $2.05 consensus, and declared a $0.26 quarterly dividend. However, revenue came in below estimates at $6.12 billion, while recent insider share sales and a bearish third-quarter outlook represent potential near-term concerns.

Handelsbanken Fonder AB trimmed its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 21.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,507 shares of the basic materials company's stock after selling 117,103 shares during the period. Handelsbanken Fonder AB's holdings in Newmont were worth $39,742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the period. Woodline Partners LP lifted its holdings in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after acquiring an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Newmont during the 2nd quarter worth $240,000. Cerity Partners LLC grew its position in Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after acquiring an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock valued at $2,854,000 after acquiring an additional 3,856 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on NEM. Raymond James Financial lowered their price target on Newmont from $139.00 to $137.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 30th. Royal Bank Of Canada reduced their price objective on Newmont from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Barclays decreased their price objective on Newmont from $125.00 to $124.00 and set an "overweight" rating on the stock in a report on Tuesday, July 28th. Jefferies Financial Group dropped their target price on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Finally, Macquarie Infrastructure cut their target price on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.11.

Newmont Price Performance

Shares of NEM stock opened at $117.17 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a fifty-two week low of $67.20 and a fifty-two week high of $134.88. The firm has a market cap of $123.46 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.31 and a beta of 0.47. The business's 50 day moving average price is $98.25 and its 200-day moving average price is $109.01.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the firm posted $1.43 earnings per share. On average, equities research analysts anticipate that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Dividend Announcement

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

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Nevada dispute settled: Newmont and Barrick agreed to resolve their longstanding Nevada Gold Mines disagreements through a deal reportedly valued at approximately $1.95 billion. The agreement includes the contribution of previously excluded properties and eliminates outstanding disputes, reducing legal and operational uncertainty for Newmont. Barrick, Newmont settle dispute with $1.95B deal
• Positive Sentiment: Cash and strategic flexibility: The settlement provides Newmont with a significant financial benefit while restructuring the joint venture to potentially maximize the value of its Nevada assets. Newmont also consented to Barrick’s proposed North American gold IPO, removing a major obstacle to the transaction. Barrick and Newmont Reach Agreement Regarding Nevada Gold Mines Joint Venture
• Neutral Sentiment: Analyst view remains constructive: Newmont received a consensus “Moderate Buy” rating, indicating that analysts generally see upside potential, though the rating is not uniformly bullish. Newmont Receives Consensus Rating of Moderate Buy
• Negative Sentiment: Near-term earnings concern: Zacks issued a bearish estimate for Newmont’s third-quarter results. That outlook could limit gains if investors begin pricing in weaker production, costs, or profitability despite the favorable Nevada settlement. Zacks Research Has Bearish Estimate for Newmont Q3 Earnings

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares of the company's stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 32,091 shares of company stock valued at $3,292,513. Corporate insiders own 0.06% of the company's stock.

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.

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