Nomura Asset Management Co. Ltd. Sells 14,142 Shares of Newmont Corporation $NEM

Key Points

• Nomura Asset Management cut its Newmont stake by 3.6% in the fourth quarter, selling 14,142 shares and ending with 379,115 shares worth about $37.9 million.
• Newmont reported strong quarterly results, with EPS of $2.90 beating estimates by $0.83 and revenue of $7.31 billion topping expectations, while revenue rose 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, payable June 22, and analysts currently rate the stock a consensus Moderate Buy with a target price of $141.53.

Nomura Asset Management Co. Ltd. decreased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 379,115 shares of the basic materials company's stock after selling 14,142 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Newmont were worth $37,855,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after acquiring an additional 637,996 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Newmont by 3.6% during the 4th 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 acquiring an additional 946,824 shares in the last quarter. Norges Bank acquired a new stake in shares of Newmont during the 4th quarter valued at about $1,443,128,000. Legal & General Group Plc boosted its position in shares of Newmont by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock valued at $687,223,000 after acquiring an additional 711,940 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock valued at $585,828,000 after acquiring an additional 2,288,653 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NEM shares. Citigroup lifted their target price on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. Argus lifted their target price on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Canaccord Genuity Group lifted their target price on shares of Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Bank of America lifted their target price on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.53.

Newmont Price Performance

NYSE:NEM opened at $109.60 on Monday. The firm has a market cap of $117.01 billion, a PE ratio of 14.22 and a beta of 0.42. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $110.89 and its two-hundred day moving average price is $109.10.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Newmont 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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