Nissay Asset Management Corp Japan Purchases New Holdings in Newmont Corporation $NEM

Nissay Asset Management Corp Japan acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 145,278 shares of the basic materials company’s stock, valued at approximately $3,036,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. BlackRock Inc. bought a new position in Newmont during the 2nd quarter valued at approximately $11,289,753,000. State Street Corp boosted its holdings in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after acquiring an additional 480,223 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after acquiring an additional 5,643,496 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 worth $2,738,756,000 after acquiring an additional 946,824 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Newmont during the fourth quarter valued at $1,443,128,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Barclays decreased their target price on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, July 28th. Jefferies Financial Group dropped their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Citigroup cut their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Newmont Stock Down 1.6%

Newmont stock opened at $125.87 on Tuesday. Newmont Corporation has a one year low of $72.78 and a one year high of $135.29. The stock has a fifty day moving average of $104.71 and a 200 day moving average of $109.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a market cap of $132.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the firm posted $1.43 earnings per share. As a group, sell-side analysts predict that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% 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. Over the last quarter, insiders have sold 25,209 shares of company stock valued at $2,567,701. 0.06% of the stock is owned by insiders.

Newmont Company 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.