Norinchukin Bank The Buys 7,421 Shares of Newmont Co. (NYSE:NEM)

Norinchukin Bank The raised its stake in Newmont Co. (NYSE:NEM) by 14.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 58,211 shares of the basic materials company’s stock after acquiring an additional 7,421 shares during the period. Norinchukin Bank The’s holdings in Newmont were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. HHM Wealth Advisors LLC grew its position in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Redwood Park Advisors LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $37,000. Promus Capital LLC acquired a new stake in shares of Newmont during the 4th quarter worth approximately $38,000. McIlrath & Eck LLC increased its position in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at $43,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at $5,874,514.63. The trade was a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 over the last 90 days. 0.05% of the stock is owned by company insiders.

Newmont Stock Down 1.6 %

Shares of NYSE NEM opened at $55.08 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $62.08 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The firm’s 50-day simple moving average is $47.14 and its 200 day simple moving average is $45.02.

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

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Newmont’s payout ratio is currently 34.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Raymond James lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Royal Bank of Canada upped their target price on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. Finally, BMO Capital Markets began coverage on Newmont in a research report on Wednesday, April 16th. They set an “outperform” rating and a $63.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.02.

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.