Swedbank AB Has $70.65 Million Stake in Newmont Corporation $NEM

Key Points

• Swedbank AB trimmed its Newmont stake by 3.5% in the fourth quarter, but still held 707,549 shares valued at about $70.65 million as of its latest SEC filing.
• Newmont posted stronger-than-expected quarterly results, reporting EPS of $2.90 versus the $2.07 consensus and revenue of $7.31 billion, up 45.8% year over year.
• The company also declared a quarterly dividend of $0.26 per share payable June 22, while Wall Street remains broadly positive with a consensus Moderate Buy rating and an average price target of $142.05.

Swedbank AB reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 707,549 shares of the basic materials company's stock after selling 25,288 shares during the period. Swedbank AB owned 0.06% of Newmont worth $70,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. GoalVest Advisory LLC bought a new stake in Newmont in the fourth quarter valued at $25,000. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Newmont in the third quarter valued at $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont in the fourth quarter valued at $28,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares of the company's stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the sale, the executive vice president directly owned 49,315 shares of the company's stock, valued at $5,430,074.65. The trade was a 5.73% 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. In the last ninety days, insiders sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company's stock.

Newmont Trading Down 0.5%

NYSE:NEM opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a 50-day moving average of $111.03 and a 200-day moving average of $108.00. The company has a market cap of $115.02 billion, a PE ratio of 13.97, a PEG ratio of 1.54 and a beta of 0.43. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88.

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

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 3rd. Wall Street Zen raised shares of Newmont from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. The Goldman Sachs Group lifted their price target on shares of Newmont from $123.20 to $125.10 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada lifted their price target on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.05.

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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