Maj Invest Holding A S Makes New $9.36 Million Investment in Newmont Corporation $NEM

Key Points

• Maj Invest Holding A S initiated a $9.36 million position in Newmont during the second quarter by purchasing 447,920 shares. Institutional investors and hedge funds collectively own 68.85% of Newmont.
• Newmont reported quarterly EPS of $2.10, topping estimates of $2.05, while revenue of $6.12 billion fell short of the $6.35 billion consensus forecast. Analysts maintain a “Moderate Buy” consensus with an average price target of $132.73.
• Newmont declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 0.8% yield. Company insiders have sold 25,209 shares worth approximately $2.57 million over the past three months.

Maj Invest Holding A S bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 447,920 shares of the basic materials company's stock, valued at approximately $9,362,000. Newmont makes up 0.4% of Maj Invest Holding A S's holdings, making the stock its 20th biggest position.

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

Newmont Stock Performance

NEM opened at $122.56 on Wednesday. The business has a fifty day simple moving average of $105.20 and a 200 day simple moving average of $109.51. The company has a market capitalization of $129.14 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. Newmont Corporation has a 1 year low of $73.44 and a 1 year high of $135.29. 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 quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion for 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 period in the prior year, the firm posted $1.43 EPS. Research analysts expect that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's payout ratio is presently 13.13%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NEM shares. Jefferies Financial Group reduced their target price on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Wall Street Zen cut shares of Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. BNP Paribas Exane dropped their price objective on shares of Newmont from $111.00 to $102.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 21st. The Goldman Sachs Group cut their target price on shares of Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Finally, Bank of America decreased their price target on shares of Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.73.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares of the company's stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares of the company's stock, valued at $3,767,436.75. This trade represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 25,209 shares of company stock worth $2,567,701. 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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