Asset Management One Co. Ltd. Sells 7,233 Shares of Newmont Corporation $NEM

Asset Management One Co. Ltd. trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 562,822 shares of the basic materials company’s stock after selling 7,233 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Newmont were worth $32,790,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC increased its holdings in Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after buying an additional 5,848 shares during the period. Generate Investment Management Ltd increased its holdings in Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after buying an additional 77,865 shares during the period. Bessemer Group Inc. increased its holdings in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after buying an additional 1,379 shares during the period. Cypress Capital Group increased its holdings in Newmont by 6.5% in the 2nd quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company’s stock valued at $2,828,000 after buying an additional 2,959 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Newmont in the 1st quarter valued at about $423,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 6.4%

NEM opened at $83.25 on Friday. The company’s 50 day moving average is $81.17 and its 200-day moving average is $65.41. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a market cap of $91.45 billion, a P/E ratio of 12.93, a PEG ratio of 0.60 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.69%. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company posted $0.81 EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 in the last ninety days. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Raymond James Financial set a $99.00 target price on shares of Newmont and gave the company an “outperform” rating in a report on Friday. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.59.

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.