Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 2,620,952 Newmont Corporation $NEM

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,620,952 shares of the basic materials company’s stock, valued at approximately $244,797,000.

Several other large investors have also modified their holdings of NEM. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the first quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new position in Newmont in the 1st quarter valued at $25,000. Clearstead Trust LLC acquired a new position in Newmont in the 2nd quarter valued at $25,000. Swiss RE Ltd. purchased a new position in Newmont during the 4th quarter worth $26,000. Finally, Cornerstone Planning Group LLC raised its position in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $120.35 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88. The firm has a market capitalization of $126.81 billion, a P/E ratio of 15.20, a PEG ratio of 1.31 and a beta of 0.47. The company’s fifty day moving average is $99.36 and its two-hundred day moving average is $108.81.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter last year, the firm posted $1.43 EPS. Analysts forecast that Newmont Corporation will post 9 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

Analyst Ratings Changes

NEM has been the topic of several analyst reports. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. BNP Paribas Exane cut their price target on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Barclays lowered their price objective on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, BMO Capital Markets dropped their target price on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.59.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 32,091 shares of company stock valued at $3,292,513. Corporate insiders own 0.06% of the company’s stock.

Newmont Company 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.