Tokio Marine Asset Management Co. Ltd. Buys 9,728 Shares of Newmont Co. (NYSE:NEM)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Newmont Co. (NYSE:NEM) by 59.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,060 shares of the basic materials company’s stock after purchasing an additional 9,728 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Newmont were worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Life Planning Partners Inc purchased a new position in Newmont in the 4th quarter worth about $26,000. TFC Financial Management Inc. boosted its stake in Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Newmont during the 3rd quarter valued at approximately $26,000. CVA Family Office LLC purchased a new position in shares of Newmont during the 4th quarter valued at approximately $34,000. Finally, OFI Invest Asset Management purchased a new position in shares of Newmont during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, BMO Capital Markets lowered their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $50.89.

Newmont Price Performance

Shares of NYSE NEM traded down $0.46 during mid-day trading on Friday, hitting $42.95. 4,406,532 shares of the stock traded hands, compared to its average volume of 13,668,537. The company has a market cap of $49.51 billion, a PE ratio of -18.05, a price-to-earnings-growth ratio of 1.07 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The firm has a 50 day simple moving average of $35.35 and a two-hundred day simple moving average of $36.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. As a group, equities research analysts forecast that Newmont Co. will post 1.99 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

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.