Asset Management One Co. Ltd. Has $53.70 Million Stock Position in Newmont Corporation $NEM

Key Points

• Asset Management One trimmed its stake in Newmont by 6.1%, now holding 538,024 shares valued at about $53.7 million.
• Company insiders sold a total of 24,394 shares worth roughly $2.71 million over the last three months, leaving insiders with just 0.06% ownership.
• Newmont beat quarterly expectations with $2.52 EPS (vs. $1.81 expected) and $6.82B revenue, and increased its quarterly dividend to $0.26 (annualized $1.04).

Asset Management One Co. Ltd. trimmed its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 538,024 shares of the basic materials company's stock after selling 35,094 shares during the period. Asset Management One Co. Ltd.'s holdings in Newmont were worth $53,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. increased its holdings in shares of Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of Newmont during the 3rd quarter valued at about $27,000. Lodestone Wealth Management LLC acquired a new position in shares of Newmont during the 4th quarter valued at about $28,000. Finally, Caldwell Trust Co acquired a new position in shares of Newmont during the 2nd quarter valued at about $31,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,394 shares of company stock valued at $2,713,281 over the last three months. Insiders own 0.06% of the company's stock.

Newmont Stock Up 2.7%

NYSE NEM opened at $116.50 on Friday. The stock has a fifty day moving average of $115.51 and a 200-day moving average of $103.72. The stock has a market capitalization of $125.81 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. Newmont Corporation has a 52 week low of $48.27 and a 52 week high of $134.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating the consensus estimate of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the firm earned $1.40 EPS. On average, equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were paid a $0.26 dividend. This is an increase from Newmont's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont's payout ratio is 16.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEM. BNP Paribas Exane increased their price objective on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. Jefferies Financial Group increased their price objective on Newmont from $162.00 to $165.00 and gave the company a "buy" rating in a report on Friday, April 10th. The Goldman Sachs Group increased their price objective on Newmont from $122.30 to $123.20 and gave the company a "buy" rating in a report on Thursday, April 9th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Newmont in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $133.38.

Newmont Company 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.

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