Newmont Corporation $NEM Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,446 shares of the basic materials company’s stock after acquiring an additional 2,283 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Newmont were worth $22,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Concord Wealth Partners lifted its position in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC increased its holdings in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Colonial Trust Advisors grew its position in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after buying an additional 444 shares during the period. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Newmont by 92.3% during the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEM. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. BNP Paribas Exane increased their price target on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, TD Securities raised their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $86.92.

Newmont Trading Up 1.1%

Newmont stock opened at $82.55 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. 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 firm has a market capitalization of $90.08 billion, a PE ratio of 12.82, a PEG ratio of 0.53 and a beta of 0.33. The business’s 50-day simple moving average is $82.96 and its 200-day simple moving average is $67.27.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $0.81 EPS. The company’s revenue was up 20.0% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. The trade was a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,237 shares of company stock valued at $906,799. 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.