Asset Management One Co. Ltd. Boosts Stake in Newmont Corporation (NYSE:NEM)

Asset Management One Co. Ltd. lifted its holdings in Newmont Corporation (NYSE:NEM) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,055 shares of the basic materials company’s stock after buying an additional 16,001 shares during the period. Asset Management One Co. Ltd.’s holdings in Newmont were worth $27,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont in the first quarter valued at approximately $31,000. Redwood Park Advisors LLC purchased a new stake in shares of Newmont during the fourth quarter worth $37,000. Promus Capital LLC purchased a new stake in shares of Newmont during the fourth quarter worth $38,000. Finally, PSI Advisors LLC increased its position in shares of Newmont by 195.5% during the first quarter. PSI Advisors LLC now owns 795 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 526 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,154 shares of company stock valued at $381,539. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank Of Canada increased their target price on Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Wall Street Zen raised Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. Finally, National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $57.68.

Newmont Stock Performance

NYSE NEM opened at $58.12 on Wednesday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $60.31. The stock has a market cap of $64.69 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.78 and a beta of 0.31. The business has a fifty day moving average of $54.02 and a 200-day moving average of $47.23. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont’s dividend payout ratio is currently 22.42%.

Newmont Company Profile

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.