Avanza Fonder AB Invests $4.27 Million in Newmont Co. (NYSE:NEM)

Avanza Fonder AB purchased a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 114,704 shares of the basic materials company's stock, valued at approximately $4,269,000.

Several other institutional investors have also bought and sold shares of NEM. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter valued at $27,000. Avior Wealth Management LLC boosted its stake in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter valued at $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter valued at $32,000. Finally, McIlrath & Eck LLC raised its position in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NEM shares. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research note on Thursday, October 24th. Veritas raised Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.80.

Newmont Price Performance

Shares of NEM stock traded up $0.07 during trading on Friday, hitting $41.72. The company had a trading volume of 7,285,053 shares, compared to its average volume of 8,329,923. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market capitalization of $47.50 billion, a P/E ratio of -27.45, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. The stock's 50-day moving average price is $40.29 and its 200 day moving average price is $46.83. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company's quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Equities analysts expect that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is currently -65.79%.

Insider Activity at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares of the company's stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company's stock.

About Newmont

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.