Nykredit A S Takes $38.92 Million Position in Newmont Corporation $NEM

Key Points

• Nykredit A/S acquired 416,673 Newmont shares valued at approximately $38.9 million during the second quarter. Institutional investors collectively own 68.85% of Newmont, with BlackRock, State Street, VanEck, Geode and Norges Bank among major holders.
• Newmont reported quarterly earnings of $2.10 per share, exceeding the $2.05 consensus estimate, though revenue of $6.12 billion fell short of expectations. The company declared a quarterly dividend of $0.26 per share, equivalent to a 0.8% yield.
• Insiders sold 32,091 shares worth roughly $3.4 million over the past 90 days. Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $133.07 compared with the stock’s reported price of $123.31.

Nykredit A S acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 416,673 shares of the basic materials company's stock, valued at approximately $38,917,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Newmont during the second quarter valued at about $11,289,753,000. State Street Corp lifted its position in shares of Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock worth $4,988,491,000 after acquiring an additional 480,223 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Newmont in the 2nd quarter worth approximately $671,197,000. Geode Capital Management LLC grew its holdings in shares of Newmont by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after purchasing an additional 946,824 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Newmont in the fourth quarter worth about $1,443,128,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the business's stock in a transaction on 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. The trade was a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00. Following the completion of the sale, the chief executive officer directly owned 131,353 shares of the company's stock, valued at $16,156,419. The trade was a 2.87% 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 have sold 32,091 shares of company stock worth $3,414,187 over the last ninety days. Insiders own 0.06% of the company's stock.

Newmont Stock Down 0.9%

NEM stock opened at $123.31 on Friday. The company has a 50-day moving average of $113.22 and a two-hundred day moving average of $109.74. 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 Corporation has a 52-week low of $76.05 and a 52-week high of $135.29. The stock has a market capitalization of $129.93 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.52.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the firm earned $1.43 earnings per share. As a group, equities research analysts anticipate that Newmont Corporation will post 9.09 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont's dividend payout ratio is 13.13%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. National Bank Financial lowered their price objective on Newmont from $140.00 to $125.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. The Goldman Sachs Group cut their target price on Newmont from $122.50 to $111.40 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their price objective on Newmont from $135.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup cut their price target on Newmont from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Finally, 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 report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $133.07.

About Newmont

Newmont Corporation NYSE: NEM is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.

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