Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Holdings in Newmont Co. (NYSE:NEM)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Newmont Co. (NYSE:NEMGet Rating) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 455,158 shares of the basic materials company’s stock after purchasing an additional 31,538 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.06% of Newmont worth $36,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. GQG Partners LLC grew its stake in shares of Newmont by 126,528.2% in the fourth quarter. GQG Partners LLC now owns 11,371,214 shares of the basic materials company’s stock valued at $705,131,000 after buying an additional 11,362,234 shares in the last quarter. Norges Bank acquired a new stake in shares of Newmont in the fourth quarter valued at $489,639,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Newmont by 10,363.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,207,852 shares of the basic materials company’s stock valued at $136,931,000 after buying an additional 2,186,752 shares in the last quarter. KBC Group NV grew its stake in shares of Newmont by 99.8% in the fourth quarter. KBC Group NV now owns 2,222,845 shares of the basic materials company’s stock valued at $137,861,000 after buying an additional 1,110,394 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Newmont by 8.2% in the fourth quarter. Invesco Ltd. now owns 10,979,409 shares of the basic materials company’s stock valued at $680,941,000 after buying an additional 828,178 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEM. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and dropped their price objective for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Barclays lowered their target price on Newmont from $68.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 19th. Raymond James lowered their target price on Newmont from $76.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, July 26th. Finally, National Bankshares lowered their target price on Newmont from $119.00 to $115.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 26th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Hold” and a consensus price target of $70.37.

Newmont Stock Down 1.1 %

Newmont stock opened at $44.77 on Friday. Newmont Co. has a fifty-two week low of $43.90 and a fifty-two week high of $86.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.82. The company has a market capitalization of $35.53 billion, a P/E ratio of 45.22 and a beta of 0.26. The stock has a 50-day simple moving average of $58.51 and a 200-day simple moving average of $66.91.

Newmont (NYSE:NEMGet Rating) last posted its earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.24). The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. Equities research analysts expect that Newmont Co. will post 2.61 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, September 7th. Newmont’s dividend payout ratio is presently 222.22%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total transaction of $744,040.00. Following the completion of the sale, the chief executive officer now directly owns 276,949 shares of the company’s stock, valued at approximately $18,732,830.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.35, for a total transaction of $136,050.00. Following the completion of the transaction, the chief operating officer now directly owns 48,947 shares of the company’s stock, valued at approximately $2,219,746.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total value of $744,040.00. Following the transaction, the chief executive officer now directly owns 276,949 shares of the company’s stock, valued at $18,732,830.36. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $3,295,400 in the last ninety days. Insiders own 0.11% of the company’s stock.

Newmont Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

Further Reading

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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