Newmont Corporation (NYSE:NEM) Position Raised by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Newmont Corporation by 1.9%, acquiring an additional 4,500 shares, bringing its total holdings to 239,547 shares valued at $11,565,000.
• Newmont's recent quarterly earnings exceeded estimates with a reported $1.43 EPS and revenue of $5.32 billion, indicating a 20.8% year-over-year increase.
• The company declared a quarterly dividend of $0.25, with a payout ratio of 22.42%, resulting in an annualized dividend yield of 1.52%.

Skandinaviska Enskilda Banken AB publ boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,547 shares of the basic materials company's stock after purchasing an additional 4,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Newmont were worth $11,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after buying an additional 1,847 shares during the period. Korea Investment CORP increased its stake in Newmont by 76.7% in the 4th quarter. Korea Investment CORP now owns 999,815 shares of the basic materials company's stock valued at $37,213,000 after buying an additional 433,994 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Newmont by 6.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,816,370 shares of the basic materials company's stock valued at $69,222,000 after buying an additional 105,538 shares during the period. UniSuper Management Pty Ltd increased its stake in Newmont by 36.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 92,150 shares of the basic materials company's stock valued at $3,430,000 after buying an additional 24,593 shares during the period. Finally, NEOS Investment Management LLC increased its stake in Newmont by 31.2% in the 4th quarter. NEOS Investment Management LLC now owns 67,960 shares of the basic materials company's stock valued at $2,529,000 after buying an additional 16,174 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Down 1.9%

Shares of NEM stock traded down $1.23 during mid-day trading on Wednesday, reaching $62.77. 2,793,103 shares of the company were exchanged, compared to its average volume of 12,156,647. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $66.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company has a market capitalization of $68.94 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.91 and a beta of 0.33. The business's 50 day simple moving average is $57.54 and its 200 day simple moving average is $50.89.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. Research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is presently 17.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NEM shares. UBS Group upped their price target on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Finally, CIBC set a $74.00 price objective on shares of Newmont and gave the company a "neutral" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average price target of $64.58.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is currently owned by corporate insiders.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.