Nordea Investment Management AB Has $92.83 Million Holdings in Newmont Co. (NYSE:NEM)

Nordea Investment Management AB boosted its position in Newmont Co. (NYSE:NEM - Free Report) by 173.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,491,126 shares of the basic materials company's stock after acquiring an additional 1,578,545 shares during the quarter. Nordea Investment Management AB owned 0.22% of Newmont worth $92,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Avior Wealth Management LLC raised its position in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after acquiring an additional 326 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Newmont during the third quarter valued at $27,000. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the third quarter worth approximately $28,000. Highline Wealth Partners LLC purchased a new stake in Newmont during the 3rd quarter valued at $32,000. Finally, Meeder Asset Management Inc. purchased a new position in Newmont in the second quarter worth about $27,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research note on Tuesday, November 19th. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada dropped their target price on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 24th. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.31.

Newmont Stock Performance

Shares of NYSE:NEM traded up $0.91 on Wednesday, reaching $39.07. 8,313,687 shares of the company's stock were exchanged, compared to its average volume of 7,720,574. The firm has a market capitalization of $44.48 billion, a price-to-earnings ratio of -25.70, a PEG ratio of 0.35 and a beta of 0.50. The business's 50-day moving average is $41.15 and its two-hundred day moving average is $46.99. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

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 for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company's revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, equities research analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.56%. Newmont's dividend payout ratio (DPR) is currently -65.79%.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company's stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by insiders.

Newmont Company 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.