Newmont Co. (NYSE:NEM) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in Newmont Co. (NYSE:NEM) by 59.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 343,599 shares of the basic materials company’s stock after buying an additional 128,044 shares during the quarter. Handelsbanken Fonder AB’s holdings in Newmont were worth $14,222,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. CWM LLC increased its stake in shares of Newmont by 34.0% during the fourth quarter. CWM LLC now owns 13,492 shares of the basic materials company’s stock worth $558,000 after acquiring an additional 3,420 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Newmont by 29.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 140,151 shares of the basic materials company’s stock valued at $5,801,000 after buying an additional 31,898 shares during the period. Signaturefd LLC lifted its stake in shares of Newmont by 158.6% during the fourth quarter. Signaturefd LLC now owns 26,217 shares of the basic materials company’s stock valued at $1,085,000 after buying an additional 16,077 shares during the period. Lindbrook Capital LLC raised its stake in Newmont by 346.9% during the fourth quarter. Lindbrook Capital LLC now owns 3,647 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 2,831 shares during the period. Finally, abrdn plc raised its stake in Newmont by 35.5% during the fourth quarter. abrdn plc now owns 1,560,154 shares of the basic materials company’s stock worth $64,575,000 after purchasing an additional 409,168 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $37.71 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The company has a market capitalization of $43.47 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 1.01 and a beta of 0.50. The firm’s 50 day moving average is $35.01 and its 200-day moving average is $36.86.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 1.98 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NEM. Royal Bank of Canada dropped their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. TD Securities reduced their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Citigroup lowered their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Hold” and a consensus price target of $50.89.

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.