6,464 Shares in Newmont Corporation $NEM Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,464 shares of the basic materials company’s stock, valued at approximately $135,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. BlackRock Inc. purchased a new stake in Newmont in the 2nd quarter worth about $11,289,753,000. State Street Corp grew its stake in shares of Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after buying an additional 480,223 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Newmont in the second quarter worth approximately $671,197,000. Geode Capital Management LLC lifted its stake in shares of Newmont by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after acquiring an additional 946,824 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Newmont during the 4th quarter worth approximately $1,443,128,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.1%

Shares of NYSE:NEM opened at $127.84 on Monday. 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 $72.78 and a 52-week high of $135.29. The stock has a market cap of $134.70 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.32 and a beta of 0.47. The business has a 50-day moving average price of $104.23 and a 200-day moving average price of $109.49.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the company earned $1.43 EPS. Equities analysts predict that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s payout ratio is currently 13.13%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 25,209 shares of company stock valued at $2,567,701. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NEM. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Raymond James Financial restated an “outperform” rating and issued a $140.00 price target on shares of Newmont in a report on Monday, August 24th. Jefferies Financial Group reduced their price target on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. National Bank Financial lowered their price objective on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Company 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.