Mitsubishi UFJ Trust & Banking Corp Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Newmont Co. (NYSE:NEM) by 4.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 670,005 shares of the basic materials company’s stock after selling 34,214 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Newmont worth $24,938,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Promus Capital LLC bought a new position in shares of Newmont in the fourth quarter worth about $38,000. McIlrath & Eck LLC grew its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. Kestra Investment Management LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $43,000. Finally, Assetmark Inc. increased its holdings in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. Scotiabank reduced their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Trading Up 2.1 %

Shares of NEM stock opened at $48.38 on Friday. The stock’s 50 day simple moving average is $44.65 and its two-hundred day simple moving average is $45.52. Newmont Co. has a 1 year low of $35.37 and a 1 year high of $58.72. The company has a market cap of $54.53 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 the consensus estimate of $5.32 billion. Research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by insiders.

Newmont 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.