Fjarde AP Fonden Fourth Swedish National Pension Fund Invests $12.44 Million in Newmont Corporation $NEM

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in Newmont Corporation (NYSE:NEM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 114,900 shares of the basic materials company’s stock, valued at approximately $12,438,000.

Several other hedge funds have also recently made changes to their positions in NEM. CWM LLC increased its holdings in Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after buying an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after acquiring an additional 54,530 shares during the period. Leonteq Securities AG purchased a new position in shares of Newmont during the 4th quarter worth $9,018,000. ARS Investment Partners LLC boosted its stake in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after acquiring an additional 23,900 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in shares of Newmont by 67.0% during the 4th quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock valued at $4,069,000 after acquiring an additional 16,352 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NEM. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Argus lifted their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Raymond James Financial cut their price objective on Newmont from $139.00 to $137.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.35.

Insiders Place Their Bets

In related news, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. 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 have sold 25,556 shares of company stock worth $2,781,006. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 0.1%

NEM opened at $96.95 on Friday. The firm has a market cap of $103.50 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.61 and a beta of 0.46. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $106.12 and a 200 day moving average of $110.78. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, research analysts forecast that Newmont Corporation will post 9.87 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

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.