Mitsubishi UFJ Trust & Banking Corp Sells 77,437 Shares of Newmont Corporation $NEM

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,007,406 shares of the basic materials company’s stock after selling 77,437 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of Newmont worth $84,934,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Newmont during the 2nd quarter worth approximately $919,170,000. Invesco Ltd. increased its stake in Newmont by 45.0% in the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares during the period. Legal & General Group Plc increased its stake in Newmont by 6.3% in the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after purchasing an additional 438,748 shares during the period. Boston Partners lifted its position in shares of Newmont by 4,090.7% during the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Newmont by 34.7% during the third quarter. Nordea Investment Management AB now owns 4,336,873 shares of the basic materials company’s stock valued at $366,553,000 after purchasing an additional 1,116,811 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a report on Monday, January 12th. Argus upped their target price on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $120.00 target price on shares of Newmont in a research report on Sunday, December 7th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Six equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and a consensus price target of $99.49.

Newmont Trading Up 2.2%

NYSE NEM opened at $124.34 on Friday. Newmont Corporation has a one year low of $40.85 and a one year high of $124.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market capitalization of $135.69 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.92 and a beta of 0.41. The company’s 50-day simple moving average is $100.57 and its two-hundred day simple moving average is $84.59.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the business’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 transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock valued at $767,206 in the last three months. 0.05% of the stock is currently owned by insiders.

Newmont Profile

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.