Daiwa Securities Group Inc. Increases Stake in Newmont Co. (NYSE:NEM)

Daiwa Securities Group Inc. grew its holdings in shares of Newmont Co. (NYSE:NEM) by 22.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,395 shares of the basic materials company’s stock after purchasing an additional 33,614 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Newmont were worth $9,909,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NEM. Maj Invest Holding A S grew its stake in Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after acquiring an additional 2,561,823 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after purchasing an additional 1,289,084 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after purchasing an additional 1,096,905 shares during the last quarter. National Bank of Canada FI lifted its position in Newmont by 47.7% during the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock worth $140,460,000 after buying an additional 1,088,742 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Newmont by 29.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after buying an additional 1,074,623 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $42.46 on Tuesday. The company’s 50 day moving average is $50.01 and its two-hundred day moving average is $47.51. The firm has a market cap of $48.34 billion, a PE ratio of -27.93, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, research analysts expect that Newmont Co. will post 3.09 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. Newmont’s payout ratio is -65.79%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEM. Jefferies Financial Group raised their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $59.00 to $55.00 in a report on Friday, October 25th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.31.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

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.