Rakuten Securities Inc. Has $215,000 Stake in Newmont Co. (NYSE:NEM)

Rakuten Securities Inc. decreased its position in shares of Newmont Co. (NYSE:NEM) by 86.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,780 shares of the basic materials company’s stock after selling 36,194 shares during the quarter. Rakuten Securities Inc.’s holdings in Newmont were worth $215,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NEM. Studio Investment Management LLC boosted its position in shares of Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 281 shares during the last quarter. Howard Capital Management Inc. lifted its holdings in Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after acquiring an additional 292 shares during the period. Fiduciary Financial Group LLC lifted its holdings in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 303 shares during the period. Finally, Conning Inc. boosted its position in Newmont by 6.0% in the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Raymond James cut their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $43.45 on Wednesday. The firm’s 50-day moving average is $42.76 and its 200 day moving average is $45.87. The company has a market capitalization of $48.96 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

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.