Nomura Asset Management Co. Ltd. Has $37.86 Million Stake in Newmont Corporation $NEM

Nomura Asset Management Co. Ltd. trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 379,115 shares of the basic materials company’s stock after selling 14,142 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Newmont were worth $37,855,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont during the third quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Newmont during the fourth quarter worth approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 0.2%

Shares of NYSE:NEM opened at $109.60 on Monday. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $117.01 billion, a PE ratio of 14.22 and a beta of 0.42. The company has a 50 day moving average price of $110.89 and a two-hundred day moving average price of $109.10.

Newmont (NYSE:NEM) last issued 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 45.8% on a year-over-year basis. Analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Insider Activity

In other Newmont news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 43,068 shares of company stock worth $4,769,475 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. TD boosted their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Scotiabank dropped their price target on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Macquarie Infrastructure boosted their price target on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $141.53.

About Newmont

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.