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

Key Points

• Asset Management One Co. Ltd. has reduced its stake in Newmont Corporation by 1.3%, selling 7,233 shares during the second quarter, leaving it with 562,822 shares valued at approximately $32.79 million.
• Several other institutional investors significantly increased their holdings in Newmont, with Concord Wealth Partners raising its position by 534.7% during the same period.
• Newmont Corporation reported earnings of $1.71 per share for the quarter, exceeding analyst expectations, with a net margin of 33.42% and a year-over-year revenue increase of 20%.

Asset Management One Co. Ltd. lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 562,822 shares of the basic materials company's stock after selling 7,233 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Newmont worth $32,790,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Concord Wealth Partners raised its position in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company's stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its position in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company's stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter worth $26,000. Colonial Trust Advisors raised 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 worth $27,000 after acquiring an additional 429 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company's stock worth $35,000 after acquiring an additional 444 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on NEM shares. Wall Street Zen raised shares of Newmont from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Citigroup upped their price target on shares of Newmont from $74.00 to $104.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Stifel Nicolaus started coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. Raymond James Financial set a $99.00 price target on shares of Newmont and gave the stock an "outperform" rating in a research report on Friday. Finally, BNP Paribas Exane increased their price objective on shares of Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.59.

Newmont Price Performance

Shares of NEM opened at $83.25 on Friday. The firm has a market capitalization of $91.45 billion, a PE ratio of 12.93, a PEG ratio of 0.60 and a beta of 0.34. The company's 50-day moving average is $81.17 and its 200-day moving average is $65.41. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.69%. The company's revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont's dividend payout ratio (DPR) is currently 15.53%.

Newmont Profile

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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