PFA Pension Forsikringsaktieselskab Buys New Position in Newmont Corporation $NEM

Key Points

• PFA Pension Forsikringsaktieselskab opened a new position in Newmont, buying 964,309 shares worth about $98.2 million (≈0.09% ownership); overall institutional ownership stands at roughly 68.85% with several large funds increasing their stakes.
• Newmont beat expectations with Q1 EPS of $2.90 (vs. $2.07) and revenue of $7.31B (up 45.8% YoY), announced a quarterly dividend of $0.26 (1.0% yield), and holds a consensus analyst rating of "Moderate Buy" with a $142.51 target.

PFA Pension Forsikringsaktieselskab bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 964,309 shares of the basic materials company's stock, valued at approximately $98,224,000. PFA Pension Forsikringsaktieselskab owned approximately 0.09% of Newmont as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after buying an additional 637,996 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Newmont by 9.6% in the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock valued at $687,223,000 after buying an additional 711,940 shares in the last quarter. Boston Partners increased its holdings in shares of Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock valued at $585,828,000 after buying an additional 2,288,653 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Newmont by 16.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company's stock valued at $498,928,000 after buying an additional 692,560 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Newmont by 33.8% in the third quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company's stock valued at $414,270,000 after buying an additional 1,244,845 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NEM shares. TD upped their price target on Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a report on Monday, April 27th. Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and upped their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. DZ Bank raised Newmont to a "strong-buy" rating in a report on Monday, January 19th. Zacks Research cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Finally, Royal Bank Of Canada upped their price target on Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.51.

Insider Buying and Selling at Newmont

In other news, insider David James Fry sold 18,394 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 24,394 shares of company stock worth $2,713,281. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 2.3%

Newmont stock opened at $108.58 on Friday. The company's fifty day simple moving average is $113.57 and its 200-day simple moving average is $105.35. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. The stock has a market cap of $115.91 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.03 and a beta of 0.46.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. During the same period in the previous year, the company posted $1.25 EPS. Newmont's revenue was up 45.8% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont's payout ratio is currently 13.49%.

About Newmont

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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