Resona Asset Management Co. Ltd. Takes Position in Newmont Co. (NYSE:NEM)

Resona Asset Management Co. Ltd. acquired a new position in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 354,132 shares of the basic materials company’s stock, valued at approximately $13,212,000.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Newmont in the 4th quarter valued at approximately $626,074,000. Allianz SE purchased a new position in Newmont in the fourth quarter worth approximately $65,385,000. Nordea Investment Management AB increased its stake in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Amundi raised its position in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NEM shares. Royal Bank of Canada raised their price objective on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. Raymond James lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.09.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NEM opened at $44.25 on Monday. The stock has a 50-day simple moving average of $45.34 and a 200-day simple moving average of $45.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1 year low of $36.60 and a 1 year high of $58.72. The stock has a market capitalization of $49.88 billion, a PE ratio of 15.10, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Newmont Company 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.