Resona Asset Management Co. Ltd. Increases Position in Newmont Corporation $NEM

Resona Asset Management Co. Ltd. boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,446 shares of the basic materials company’s stock after buying an additional 2,283 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Newmont were worth $22,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hemington Wealth Management grew its holdings in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the last quarter. IVC Wealth Advisors LLC lifted its stake in Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after buying an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Newmont by 11.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Newmont by 4.4% during the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 190 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its holdings in Newmont by 1.0% in the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $82.55 on Friday. The stock has a market cap of $90.08 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The stock has a 50 day moving average of $82.96 and a 200-day moving average of $67.27. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio is 15.53%.

Analyst Ratings Changes

NEM has been the topic of a number of recent analyst reports. Raymond James Financial set a $99.00 price target on Newmont and gave the stock an “outperform” rating in a research note on Friday, October 24th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. National Bankshares reissued an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Weiss Ratings upgraded shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Buy” and a consensus price target of $86.92.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’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 directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,237 shares of company stock valued at $906,799 in the last 90 days. Insiders own 0.05% of the company’s stock.

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.