Sumitomo Mitsui Financial Group Inc. Purchases Shares of 190,004 Newmont Corporation $NEM

Sumitomo Mitsui Financial Group Inc. purchased a new stake in Newmont Corporation (NYSE:NEM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 190,004 shares of the basic materials company’s stock, valued at approximately $18,972,000.

A number of other large investors also recently bought and sold shares of NEM. Brighton Jones LLC lifted its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP raised its stake in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after buying an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC raised its stake in shares of Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 5.1%

NYSE NEM opened at $97.52 on Friday. The business has a fifty day moving average price of $111.21 and a 200 day moving average price of $110.05. Newmont Corporation has a one year low of $54.14 and a one year 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 cap of $104.11 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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 return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm’s revenue was up 45.8% compared to the same quarter last year. Research analysts anticipate that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NEM shares. TD Securities reaffirmed a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Weiss Ratings downgraded Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Finally, Argus upped their target price on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Insider Transactions at Newmont

In related news, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,950 shares of company stock worth $5,494,288 in the last quarter. 0.06% of the stock is owned by insiders.

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.