Mufg Securities Americas Inc. Invests $625,000 in Newmont Co. (NYSE:NEM)

Mufg Securities Americas Inc. acquired a new position in shares of Newmont Co. (NYSE:NEMFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,805 shares of the basic materials company’s stock, valued at approximately $625,000.

Several other hedge funds also recently modified their holdings of NEM. Van ECK Associates Corp grew its stake in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank bought a new stake in shares of Newmont during the fourth quarter valued at approximately $626,074,000. Northern Trust Corp grew its stake in shares of Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the last quarter. Finally, Amundi grew its stake in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 2.4%

NEM opened at $49.82 on Friday. The stock has a market capitalization of $55.45 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. The firm’s fifty day simple moving average is $50.20 and its 200 day simple moving average is $44.97. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEMGet Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the firm posted $0.55 EPS. As a group, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 2.01%. Newmont’s payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were 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 owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock worth $328,840. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEM. BMO Capital Markets reissued an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. TD Securities reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada raised their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.63.

View Our Latest Stock Report on Newmont

About Newmont

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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