Nikko Asset Management Americas Inc. Purchases 2,630 Shares of Newmont Co. (NYSE:NEM)

Nikko Asset Management Americas Inc. raised its holdings in shares of Newmont Co. (NYSE:NEM) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,719 shares of the basic materials company’s stock after purchasing an additional 2,630 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Newmont were worth $3,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Life Planning Partners Inc bought a new position in Newmont in the fourth quarter valued at approximately $26,000. Manchester Capital Management LLC grew its stake in shares of Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the period. CVA Family Office LLC acquired a new stake in shares of Newmont during the fourth quarter worth $34,000. Advantage Trust Co bought a new stake in Newmont in the fourth quarter valued at about $41,000. Finally, Rise Advisors LLC lifted its stake in Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after buying an additional 973 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 0.5 %

NYSE:NEM traded down $0.24 during trading hours on Tuesday, reaching $43.89. 4,837,507 shares of the stock were exchanged, compared to its average volume of 11,634,897. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92. The stock has a market cap of $50.61 billion, a PE ratio of -16.53, a PEG ratio of 0.38 and a beta of 0.47. The firm has a 50 day moving average of $42.00 and a 200 day moving average of $38.18.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, equities analysts expect that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.28%. Newmont’s payout ratio is presently -37.45%.

Analyst Ratings Changes

A number of analysts have recently commented on NEM shares. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. TD Securities upped their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. BMO Capital Markets lowered their price objective on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.29.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the sale, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

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.