Newmont Corporation $NEM Shares Sold by Daiwa Securities Group Inc.

Key Points

• Daiwa Securities Group Inc. cut its Newmont stake by 18.3% in the fourth quarter, selling 39,572 shares and leaving it with 177,063 shares worth about $17.68 million.
• Despite the sale, institutional ownership remains high, with 68.85% of Newmont shares held by institutions and hedge funds; several large investors, including Vanguard and Geode Capital, increased their positions.
• Newmont reported strong quarterly results, with EPS of $2.90 and revenue of $7.31 billion, both ahead of estimates, while analysts maintain a consensus Moderate Buy rating with a target price of $142.07.

Daiwa Securities Group Inc. reduced its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 18.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 177,063 shares of the basic materials company's stock after selling 39,572 shares during the period. Daiwa Securities Group Inc.'s holdings in Newmont were worth $17,680,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after purchasing an additional 637,996 shares during the period. Geode Capital Management LLC increased its stake in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock valued at $2,738,756,000 after purchasing an additional 946,824 shares during the period. Norges Bank acquired a new position in Newmont in the fourth quarter valued at $1,443,128,000. Bank of New York Mellon Corp increased its stake in Newmont by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 11,622,479 shares of the basic materials company's stock valued at $1,160,505,000 after purchasing an additional 725,012 shares during the period. Finally, Legal & General Group Plc increased its stake in Newmont by 9.6% in the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock valued at $687,223,000 after purchasing an additional 711,940 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Newmont news, insider David James Fry sold 18,394 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider owned 17,147 shares of the company's stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the sale, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. This trade represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Macquarie Infrastructure lifted their price objective on shares of Newmont from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. TD Cowen reiterated a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Bank of America boosted their price target on shares of Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Royal Bank Of Canada decreased their price objective on shares of Newmont from $160.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, National Bank Financial boosted their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.07.

Newmont Stock Down 7.9%

NEM stock opened at $99.77 on Friday. The company has a market cap of $106.51 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.80 and a beta of 0.42. Newmont Corporation has a 52 week low of $52.08 and a 52 week high of $134.88. The company's 50-day moving average price is $111.70 and its 200 day moving average price is $109.55. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm's revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is 13.49%.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

About Newmont

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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