Mitsubishi UFJ Asset Management Co. Ltd. Has $69.22 Million Position in Newmont Co. (NYSE:NEM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Newmont Co. (NYSE:NEM) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,816,370 shares of the basic materials company’s stock after acquiring an additional 105,538 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Newmont worth $69,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC increased its position in Newmont by 49.3% during the third quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock worth $3,129,000 after buying an additional 19,321 shares during the last quarter. FMR LLC boosted its stake in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the period. Townsquare Capital LLC increased its holdings in shares of Newmont by 117.7% during the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock worth $1,245,000 after acquiring an additional 12,596 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Newmont by 8.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock valued at $1,584,000 after acquiring an additional 2,199 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Newmont by 11.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company’s stock valued at $2,632,000 after purchasing an additional 4,900 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several research analyst reports. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. CLSA assumed coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Scotiabank lowered their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Stock Down 0.7 %

NYSE NEM opened at $48.06 on Friday. The business has a fifty day moving average price of $44.78 and a two-hundred day moving average price of $45.50. The stock has a market capitalization of $54.17 billion, a PE ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.10 and a fifty-two week high of $58.72. 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 quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a $0.25 dividend. 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 2.08%. Newmont’s payout ratio is currently 34.13%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last three months. 0.05% of the stock is owned by corporate insiders.

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.