Newmont Corporation $NEM Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its stake in Newmont Corporation (NYSE:NEM) by 1.6% in the first quarter, Holdings Channel reports. The institutional investor owned 356,998 shares of the basic materials company’s stock after acquiring an additional 5,629 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Newmont were worth $38,305,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 4th quarter worth about $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Newmont during the first quarter worth about $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC grew its stake in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Newmont in the third quarter worth about $27,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NYSE NEM opened at $93.20 on Thursday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $104.89 and its two-hundred day moving average price is $110.79. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The stock has a market capitalization of $99.50 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.58 and a beta of 0.46.

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

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is currently 13.49%.

Key Stories Impacting 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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. Scotiabank cut their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Royal Bank Of Canada decreased their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Finally, BMO Capital Markets reduced their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.78.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their position. 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 28,556 shares of company stock valued at $3,058,146 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.