E. Ohman J or Asset Management AB Reduces Holdings in Newmont Corporation $NEM

E. Ohman J or Asset Management AB reduced its position in Newmont Corporation (NYSE:NEM) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,098 shares of the basic materials company’s stock after selling 10,853 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Newmont were worth $3,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Estate Counselors LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $4,182,000. AustralianSuper Pty Ltd boosted its stake in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after buying an additional 183,360 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new stake in shares of Newmont in the 3rd quarter worth $2,232,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00. Following the sale, the executive vice president owned 55,315 shares of the company’s stock, valued at approximately $5,974,020. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks highlights Newmont as one of two basic-materials names showing positive earnings momentum (Earnings ESP), reinforcing expectations for continuing earnings surprises after Newmont’s recent quarter beat. Read More.
• Positive Sentiment: Heightened investor attention: Zacks reports Newmont is one of the most-searched names recently, which can drive intraday interest and trading flows. Read More.
• Neutral Sentiment: Dividend mechanics update for Australian CHESS/CDI holders: Newmont posted currency-exchange details for its ASX/CHESS dividend notification — administrative but clarifies cash flows for Australian investors. Read More.
• Neutral Sentiment: Executive share sales disclosed as pre-planned trades: Newmont announced a planned trading sale by EVP Peter Toth, which the company frames as routine and pre-arranged. Such plan-based sales are less likely to signal negative private information. Read More.
• Negative Sentiment: Falling gold prices are pressuring miners broadly — Barron’s notes gold has erased YTD gains and is dragging mining stocks lower, a primary headwind for Newmont’s revenue outlook and sentiment. Read More.
• Negative Sentiment: Analyst pressure: Scotiabank cut its Newmont price target to $151 and other outlets reported an analyst downgrade that previously knocked shares lower — analyst revisions can cap upside until commodity trends stabilize. Read More. Read More.
• Negative Sentiment: Insider selling reported: separate filings show an EVP sold roughly $324k of stock; while not uncommon, active insider sales can weigh on near-term sentiment. Read More.

Newmont Stock Up 2.2%

NYSE:NEM opened at $97.94 on Tuesday. Newmont Corporation has a 52 week low of $42.93 and a 52 week high of $134.88. The stock’s fifty day moving average is $118.14 and its two-hundred day moving average is $99.90. The stock has a market capitalization of $106.55 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.74 and a beta of 0.39. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 3rd. Newmont’s payout ratio is currently 16.28%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James Financial boosted their price target on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Citigroup lifted their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus boosted their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, National Bank Financial increased their price target on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has an average rating of “Buy” and a consensus price target of $134.10.

Newmont Company 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.