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

Asset Management One Co. Ltd. lifted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 570,055 shares of the basic materials company's stock after purchasing an additional 16,001 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Newmont worth $27,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. SOA Wealth Advisors LLC. boosted its stake 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 buying an additional 201 shares during the period. Nexus Investment Management ULC purchased a new position in Newmont during the first quarter worth $31,000. PSI Advisors LLC boosted its stake in 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 buying an additional 526 shares during the period. Grove Bank & Trust boosted its stake in Newmont by 84.0% during the first quarter. Grove Bank & Trust now owns 911 shares of the basic materials company's stock worth $44,000 after buying an additional 416 shares during the period. Finally, Redwood Park Advisors LLC purchased a new position in Newmont during the fourth quarter worth $37,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NEM stock opened at $58.12 on Wednesday. The firm has a market cap of $64.69 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.78 and a beta of 0.31. The firm has a 50-day simple moving average of $54.02 and a two-hundred day simple moving average of $47.23. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period last year, the firm posted $0.55 EPS. On average, equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on NEM. TD Securities dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Raymond James Financial reissued an "outperform" rating and set a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.68.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the transaction, the director now directly owns 45,180 shares of the company's stock, valued at $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock worth $381,539 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

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.

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