Skandinaviska Enskilda Banken AB publ Trims Stock Holdings in Newmont Corporation $NEM

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,213 shares of the basic materials company’s stock after selling 14,634 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Newmont were worth $26,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the period. HHM Wealth Advisors LLC grew its position in shares of Newmont by 26.4% during the third quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 140 shares in the last quarter. Fielder Capital Group LLC raised its stake in Newmont by 1.7% during the 3rd quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock valued at $707,000 after purchasing an additional 141 shares during the period. Summit Financial Wealth Advisors LLC lifted its holdings in Newmont by 2.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares in the last quarter. Finally, Welch Group LLC boosted its stake in Newmont by 1.3% in the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after purchasing an additional 153 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NEM. UBS Group reissued a “buy” rating and issued a $160.00 target price on shares of Newmont in a report on Friday, January 30th. Argus lifted their target price on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. TD Cowen raised their price target on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Citigroup reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Finally, Scotiabank increased their target price on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $131.94.

Newmont Stock Down 2.9%

NYSE:NEM opened at $122.17 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market cap of $133.32 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40. The company has a 50-day moving average of $111.51 and a 200 day moving average of $92.12. Newmont Corporation has a 1-year low of $41.23 and a 1-year high of $134.88.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

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.