Swedbank AB Has $40.42 Million Stock Position in Newmont Co. (NYSE:NEM)

Swedbank AB boosted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 13.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 756,240 shares of the basic materials company's stock after purchasing an additional 87,537 shares during the period. Swedbank AB owned about 0.07% of Newmont worth $40,421,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Newmont in the 1st quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont during the second quarter valued at approximately $27,000. Hoese & Co LLP acquired a new stake in Newmont in the third quarter valued at approximately $27,000. Finally, Avior Wealth Management LLC grew its position in Newmont by 191.8% in the third 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. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 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 $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company's stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

NYSE:NEM traded down $0.21 during trading hours on Tuesday, reaching $42.25. The company had a trading volume of 6,350,756 shares, compared to its average volume of 10,535,742. The firm has a market capitalization of $48.10 billion, a PE ratio of -27.80, a PEG ratio of 0.38 and a beta of 0.51. The stock has a 50-day moving average of $50.01 and a two-hundred day moving average of $47.51. Newmont Co. has a one year low of $29.42 and a one year 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 announced 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 firm had revenue of $4.61 billion for 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 revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. Analysts forecast that Newmont Co. will post 3.09 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. Newmont's dividend payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. Royal Bank of Canada reduced their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research note on Thursday, October 24th. UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC downgraded Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Jefferies Financial Group increased their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a report on Friday, October 4th. Finally, Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.31.

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.