145,278 Shares in Newmont Corporation $NEM Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan bought a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel.com reports. The firm bought 145,278 shares of the basic materials company’s stock, valued at approximately $3,036,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont during the 1st quarter valued at $25,000. Pinnacle Bancorp Inc. purchased a new stake in Newmont in the 1st quarter worth $25,000. Swiss RE Ltd. bought a new stake in Newmont during the fourth quarter valued at about $26,000. Clearstead Trust LLC bought a new stake in Newmont during the second quarter valued at about $25,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 1.6%

Shares of NEM stock opened at $125.87 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $132.63 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. Newmont Corporation has a 12-month low of $72.78 and a 12-month high of $135.29. The stock’s 50-day moving average price is $104.71 and its 200-day moving average price is $109.53.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts predict that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Insider Activity at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. The trade was 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 ninety days, insiders sold 25,209 shares of company stock valued at $2,567,701. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEM. Argus set a $110.00 price objective on Newmont in a research note on Monday, August 3rd. Jefferies Financial Group lowered their price target on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, UBS Group reduced their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $132.73.

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.