Resona Asset Management Co. Ltd. Grows Position in Newmont Corporation $NEM

Resona Asset Management Co. Ltd. raised its stake in shares of Newmont Corporation (NYSE:NEM) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 356,998 shares of the basic materials company’s stock after purchasing an additional 5,629 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Newmont were worth $38,305,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Newmont during the fourth quarter valued at about $1,443,128,000. Van ECK Associates Corp raised its holdings in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Newmont by 110.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after purchasing an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Newmont by 82.5% in the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after purchasing an additional 3,345,543 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after purchasing an additional 2,294,396 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NEM shares. Canaccord Genuity Group increased their target price on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. BMO Capital Markets decreased their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. National Bank Financial increased their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, Scotiabank cut their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.78.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 over the last ninety days. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NYSE:NEM opened at $93.20 on Thursday. The business’s 50-day simple moving average is $104.89 and its 200 day simple moving average is $110.79. The company has a market cap of $99.50 billion, a P/E ratio of 12.09, a PEG ratio of 1.58 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business earned $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, sell-side analysts forecast that Newmont Corporation will post 9.87 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were paid a $0.26 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 13.49%.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont could benefit if gold’s recent rebound continues, since the company’s earnings are closely tied to precious-metals prices and improved gold momentum typically supports the stock. Can Newmont (NYSE:NEM) Ride Gold’s Rebound?
• Positive Sentiment: Recent coverage says Newmont is gaining as gold momentum builds, reinforcing the view that stronger bullion prices could boost revenue and margins for the miner. Newmont (NYSE:NEM) Gains As Gold Momentum Builds Today
• Positive Sentiment: Newmont welcomed Canada’s CA$500 million funding for the Red Chris Block Cave project, which strengthens the economics of a major development asset and supports longer-term growth prospects. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: Jefferies reiterated a Buy stance on Newmont and assigned a new $146 price target, indicating analysts still see meaningful upside from current levels. Newmont (NYSE:NEM) Given New $146.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Newmont recently outperformed the broader market in a prior session, showing that investor interest in the gold miner remains strong even amid volatility. Newmont Corporation (NEM) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still pressure sentiment because insider selling is often viewed cautiously by investors. Newmont (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of Stock
• Negative Sentiment: Some recent commentary argues Newmont remains overvalued on a fundamental basis, and GF Value said the shares are still above fair value, which may weigh on buyer enthusiasm. Newmont Corp (NEM) Shares Fall 3.2% — GF Value Says Still Overvalued

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.