2,620,952 Shares in Newmont Corporation $NEM Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,620,952 shares of the basic materials company’s stock, valued at approximately $244,797,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of Newmont at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Newmont during the 4th quarter worth about $1,443,128,000. Bank of New York Mellon Corp acquired a new stake in shares of Newmont during the 2nd quarter worth about $1,219,505,000. Van ECK Associates Corp raised its position in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after acquiring an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after purchasing an additional 4,588,018 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on NEM shares. Citigroup dropped their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. BNP Paribas Exane reduced their price objective on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. TD upped their target price on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Finally, Argus set a $110.00 price target on shares of Newmont in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.59.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. This represents a 6.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,091 shares of company stock valued at $3,292,513 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 2.2%

NYSE:NEM opened at $120.35 on Tuesday. The stock’s 50 day moving average price is $99.36 and its 200 day moving average price is $108.81. The company has a market capitalization of $126.81 billion, a PE ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $67.20 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. On average, research analysts anticipate that Newmont Corporation will post 9 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

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.