Meiji Yasuda Life Insurance Co Purchases New Position in Newmont Corporation $NEM

Meiji Yasuda Life Insurance Co purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, Holdings Channel reports. The firm purchased 6,464 shares of the basic materials company’s stock, valued at approximately $135,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Newmont in the 2nd quarter valued at $11,289,753,000. State Street Corp raised its position in Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after acquiring an additional 480,223 shares during the period. Van ECK Associates Corp purchased a new position in Newmont during the second quarter valued at $671,197,000. Geode Capital Management LLC lifted its holdings in Newmont by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after purchasing an additional 946,824 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Newmont in the fourth quarter valued at about $1,443,128,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,209 shares of company stock worth $2,567,701 in the last ninety days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on NEM. The Goldman Sachs Group cut their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. UBS Group lowered their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Bank of America cut their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. National Bank Financial reduced their target price on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group decreased their target price on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.73.

Newmont Stock Performance

NYSE:NEM opened at $127.84 on Monday. The company has a market cap of $134.70 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.32 and a beta of 0.47. Newmont Corporation has a twelve month low of $72.78 and a twelve month high of $135.29. The company’s 50-day moving average price is $104.23 and its 200-day moving average price is $109.49. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 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 company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, sell-side analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s payout ratio is 13.13%.

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.