Newmont Corporation (NYSE:NEM) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,969 shares of the basic materials company's stock after purchasing an additional 10,520 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Newmont were worth $8,110,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NEM. SOA Wealth Advisors LLC. grew its holdings in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. Nexus Investment Management ULC purchased a new position in shares of Newmont during the first quarter worth about $31,000. Alpine Bank Wealth Management purchased a new position in shares of Newmont during the first quarter worth about $32,000. Redwood Park Advisors LLC purchased a new position in shares of Newmont during the fourth quarter worth about $37,000. Finally, Promus Capital LLC purchased a new position in shares of Newmont during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded down $0.20 during midday trading on Thursday, reaching $59.86. 5,387,327 shares of the company traded hands, compared to its average volume of 10,602,512. The firm's 50 day simple moving average is $54.47 and its two-hundred day simple moving average is $47.90. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm has a market cap of $66.62 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm earned $0.55 EPS. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the transaction, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares of the company's stock, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $679,813 over the last 90 days. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. UBS Group raised their price target on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.11.

About Newmont

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.