Danica Pension Livsforsikringsaktieselskab Takes Position in Newmont Corporation $NEM

Danica Pension Livsforsikringsaktieselskab bought a new position in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 44,764 shares of the basic materials company’s stock, valued at approximately $4,181,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC boosted its position in shares of Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after acquiring an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEM shares. Raymond James Financial decreased their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Jefferies Financial Group dropped their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Citigroup decreased their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Scotiabank increased their price target on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.59.

Newmont Stock Down 3.6%

Shares of NEM opened at $115.99 on Wednesday. The company has a market cap of $122.22 billion, a PE ratio of 14.65, a P/E/G ratio of 1.31 and a beta of 0.47. The business has a fifty day moving average of $99.71 and a 200 day moving average of $108.70. Newmont Corporation has a 52-week low of $67.20 and a 52-week high of $134.88. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. On average, sell-side analysts expect that Newmont Corporation will post 9 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s payout ratio is currently 13.13%.

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. This trade represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 32,091 shares of company stock worth $3,292,513. Insiders own 0.06% of the company’s stock.

About Newmont

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.