Newmont Corporation (NYSE:NEM) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Newmont Corporation by 7.4%, acquiring a total of 380,163 shares valued at approximately $18.3 million.
• Newmont announced a quarterly dividend of $0.25, translating to a 1.5% annual yield, with the payment set for September 29th, following an ex-dividend date of September 4th.
• The company reported earnings per share of $1.43 for the last quarter, significantly exceeding analysts' expectations of $0.95, while revenues rose 20.8% year-over-year to $5.32 billion.

Resona Asset Management Co. Ltd. lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 7.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 380,163 shares of the basic materials company's stock after buying an additional 26,031 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Newmont were worth $18,343,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Newmont in the 1st quarter worth $26,000. Private Trust Co. NA lifted its stake in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont in the 1st quarter worth $31,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Newmont in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NEM. Raymond James Financial boosted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. UBS Group boosted their target price on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.84 during midday trading on Friday, hitting $69.32. The company's stock had a trading volume of 7,907,348 shares, compared to its average volume of 11,944,745. The business's 50 day simple moving average is $60.66 and its 200 day simple moving average is $52.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company has a market cap of $76.14 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $70.29.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. On average, analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is 17.95%.

Insider Activity

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,246 shares of company stock valued at $1,373,251. Company insiders own 0.05% of the company's stock.

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.