Nordea Investment Management AB Has $28.28 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Nordea Investment Management AB increased its holdings in shares of Newmont Co. (NYSE:NEMFree Report) by 3.3% in the first quarter, Holdings Channel.com reports. The firm owned 786,323 shares of the basic materials company’s stock after purchasing an additional 24,980 shares during the quarter. Nordea Investment Management AB’s holdings in Newmont were worth $28,276,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Newmont by 43.8% during the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Newmont by 57.2% during the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after acquiring an additional 18,664,614 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Newmont by 44.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock worth $1,019,813,000 after acquiring an additional 7,635,657 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Newmont by 29.9% during the 4th quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock worth $983,267,000 after acquiring an additional 5,475,155 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Newmont by 39.8% during the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock worth $832,354,000 after acquiring an additional 6,617,145 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 0.1 %

Shares of NYSE NEM opened at $44.16 on Tuesday. The company has a market cap of $50.92 billion, a P/E ratio of -16.53, a P/E/G ratio of 0.38 and a beta of 0.47. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $42.00 and a two-hundred day simple moving average of $38.18. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. Research analysts anticipate that Newmont Co. will post 2.48 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Newmont’s payout ratio is -37.45%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEM. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Bank of America raised their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Citigroup decreased their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets decreased their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.29.

Get Our Latest Analysis on Newmont

About Newmont

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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