Resona Asset Management Co. Ltd. Sells 6,917 Shares of Newmont Corporation $NEM

Resona Asset Management Co. Ltd. lowered its position in Newmont Corporation (NYSE:NEM) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 351,369 shares of the basic materials company’s stock after selling 6,917 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Newmont were worth $35,082,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB increased its holdings in shares of Newmont by 169.6% in the fourth quarter. AMF Tjanstepension AB now owns 761,076 shares of the basic materials company’s stock worth $75,993,000 after purchasing an additional 478,821 shares during the period. Csenge Advisory Group purchased a new position in Newmont in the fourth quarter worth $294,000. ProShare Advisors LLC grew its position in Newmont by 3.7% in the fourth quarter. ProShare Advisors LLC now owns 233,835 shares of the basic materials company’s stock worth $23,348,000 after acquiring an additional 8,383 shares in the last quarter. Radnor Capital Management LLC grew its position in Newmont by 17.6% in the fourth quarter. Radnor Capital Management LLC now owns 25,153 shares of the basic materials company’s stock worth $2,512,000 after acquiring an additional 3,770 shares in the last quarter. Finally, Cedar Wealth Management LLC grew its position in Newmont by 34.6% in the fourth quarter. Cedar Wealth Management LLC now owns 7,786 shares of the basic materials company’s stock worth $777,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.7%

Shares of NYSE:NEM opened at $109.81 on Tuesday. The stock’s 50-day moving average price is $111.83 and its 200-day moving average price is $107.46. Newmont Corporation has a 12-month low of $49.99 and a 12-month high of $134.88. The stock has a market capitalization of $117.23 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. 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 Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Bank of America upped their target price on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Citigroup upped their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $142.51.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 over the last three months. 0.06% of the stock is owned by corporate 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.