Newmont Co. (NYSE:NEM) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. reduced its position in shares of Newmont Co. (NYSE:NEM) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,305 shares of the basic materials company’s stock after selling 710 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Newmont were worth $942,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Sanctuary Advisors LLC grew its stake in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Brookstone Capital Management bought a new stake in shares of Newmont during the 4th quarter worth $245,000. Finally, Moody National Bank Trust Division grew its holdings in shares of Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 2,645 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NEM. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada raised their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Price Performance

Shares of NEM opened at $47.36 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $53.38 billion, a PE ratio of 16.16, a PEG ratio of 0.41 and a beta of 0.54. The firm’s 50 day moving average price is $44.52 and its 200 day moving average price is $45.50. Newmont Co. has a twelve month low of $34.18 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

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.