Newmont Corporation $NEM Shares Bought by Andra AP fonden

Andra AP fonden grew its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 292,700 shares of the basic materials company's stock after purchasing an additional 123,200 shares during the quarter. Andra AP fonden's holdings in Newmont were worth $29,226,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock worth $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after acquiring an additional 946,824 shares during the last quarter. Norges Bank acquired a new position in shares of Newmont in the 4th quarter worth $1,443,128,000. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 11,622,479 shares of the basic materials company's stock worth $1,160,505,000 after acquiring an additional 725,012 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock worth $687,223,000 after acquiring an additional 711,940 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. Weiss Ratings cut Newmont from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 27th. Citigroup lifted their price target on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Royal Bank Of Canada lowered their price target on Newmont from $160.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, June 3rd. Jefferies Financial Group lifted their price target on Newmont from $154.00 to $158.00 and gave the company a "buy" rating in a report on Monday. Finally, Bank of America lifted their price objective on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.26.

Newmont Price Performance

Shares of NYSE:NEM opened at $97.52 on Friday. Newmont Corporation has a fifty-two week low of $54.14 and a fifty-two week high of $134.88. The business has a 50-day moving average of $111.21 and a two-hundred day moving average of $110.05. The stock has a market capitalization of $104.11 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.42. 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 (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business's quarterly revenue was up 45.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont's payout ratio is presently 13.49%.

Insiders Place Their Bets

In other news, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% 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. Insiders sold a total of 49,950 shares of company stock valued at $5,494,288 in the last ninety days. Company insiders own 0.06% of the company's stock.

Newmont Company 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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