Livforsakringsbolaget Skandia Omsesidigt Grows Position in Newmont Co. (NYSE:NEM)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Newmont Co. (NYSE:NEM) by 257.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,922 shares of the basic materials company’s stock after purchasing an additional 5,708 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Newmont were worth $423,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Newmont by 43.8% during the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after buying an additional 36,170,995 shares in the last quarter. Maj Invest Holding A S raised its position in shares of Newmont by 296.0% in the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after acquiring an additional 2,561,823 shares during the period. Capital International Investors purchased a new stake in shares of Newmont during the 1st quarter worth about $49,444,000. Van ECK Associates Corp grew its position in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after purchasing an additional 1,088,742 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Bank of America increased their price objective on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $53.31.

Newmont Price Performance

Shares of NEM stock opened at $54.30 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company has a market capitalization of $62.62 billion, a PE ratio of -20.34, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. The firm’s 50-day moving average is $52.00 and its two-hundred day moving average is $45.70. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $56.30.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 64.1% compared to the same quarter last year. Analysts predict that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Newmont 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.