Nikko Asset Management Americas Inc. Cuts Stock Position in Newmont Co. (NYSE:NEM)

Nikko Asset Management Americas Inc. lowered its position in Newmont Co. (NYSE:NEM) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,792 shares of the basic materials company’s stock after selling 10,824 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Newmont were worth $2,635,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont during the 3rd quarter worth approximately $28,000. HHM Wealth Advisors LLC grew its position in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC purchased a new stake in Newmont during the 4th quarter worth approximately $38,000. Finally, McIlrath & Eck LLC grew its position in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. TD Securities dropped their price objective 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. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Performance

NYSE:NEM opened at $47.57 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a fifty day moving average of $43.39 and a two-hundred day moving average of $45.68. The stock has a market capitalization of $53.60 billion, a PE ratio of 16.23, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $33.29 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 directly owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

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.