Asahi Life Asset Management CO. LTD. Makes New $468,000 Investment in Newmont Corporation (NYSE:NEM)

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,690 shares of the basic materials company’s stock, valued at approximately $468,000.

Several other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in 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 worth $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank acquired a new position in Newmont during the 4th quarter worth about $626,074,000. Bank of New York Mellon Corp lifted its stake in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after acquiring an additional 1,306,783 shares in the last quarter. Northern Trust Corp grew its position in Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after acquiring an additional 1,309,177 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 0.6%

NYSE NEM opened at $60.12 on Monday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $60.71. The company has a market capitalization of $66.91 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm’s fifty day moving average price is $55.34 and its 200 day moving average price is $49.06.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.66%. Newmont’s dividend payout ratio (DPR) is 22.42%.

Analysts Set New Price Targets

NEM has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Stifel Nicolaus began coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. Stifel Canada raised Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Scotiabank reiterated a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.45.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president owned 74,526 shares of the company’s stock, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by company insiders.

About Newmont

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.