Newmont Corporation $NEM Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its holdings in Newmont Corporation (NYSE:NEM) by 6.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 358,286 shares of the basic materials company’s stock after selling 24,160 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Newmont were worth $30,221,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NEM. Harbor Capital Advisors Inc. boosted its holdings in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after buying an additional 139 shares in the last quarter. Concord Wealth Partners lifted its position in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Newmont in the third quarter valued at $44,000. Finally, Capital A Wealth Management LLC grew its holdings in shares of Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock valued at $767,206 in the last quarter. 0.05% of the stock is currently owned by company insiders.

Newmont Price Performance

Shares of NEM opened at $124.34 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $100.57 and its two-hundred day moving average is $84.78. Newmont Corporation has a twelve month low of $40.85 and a twelve month high of $124.64. The firm has a market capitalization of $135.69 billion, a PE ratio of 19.31, a P/E/G ratio of 0.94 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. Research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a research note on Friday, December 5th. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, Argus increased their price objective on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Six research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $103.77.

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.