Asahi Life Asset Management CO. LTD. Sells 1,880 Shares of Newmont Corporation $NEM

Asahi Life Asset Management CO. LTD. decreased its position in shares of Newmont Corporation (NYSE:NEM) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,810 shares of the basic materials company’s stock after selling 1,880 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in Newmont were worth $455,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares during the period. Amundi lifted its position in shares of Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after acquiring an additional 343,535 shares during the period. Invesco Ltd. lifted its position in shares of Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after acquiring an additional 228,116 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after acquiring an additional 1,201,237 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Newmont by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock valued at $333,192,000 after acquiring an additional 50,840 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 3.4%

Shares of NEM stock opened at $81.61 on Thursday. The firm has a market capitalization of $89.06 billion, a PE ratio of 12.67, a PEG ratio of 0.53 and a beta of 0.33. The stock has a fifty day simple moving average of $82.77 and a two-hundred day simple moving average of $67.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. On average, analysts predict that Newmont Corporation 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 Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on NEM shares. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Finally, National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $86.92.

Newmont 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.