Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Newmont Co. (NYSE:NEM) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,182,580 shares of the basic materials company’s stock after selling 89,595 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Newmont worth $114,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Newmont by 12.2% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 39,668 shares of the basic materials company’s stock valued at $1,422,000 after purchasing an additional 4,313 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Newmont by 460.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 6,928 shares of the basic materials company’s stock valued at $248,000 after buying an additional 5,691 shares during the period. Citizens Business Bank acquired a new position in Newmont during the 1st quarter worth approximately $596,000. AMF Tjanstepension AB boosted its holdings in Newmont by 7.9% in the 1st quarter. AMF Tjanstepension AB now owns 473,322 shares of the basic materials company’s stock worth $16,982,000 after acquiring an additional 34,634 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Newmont during the first quarter valued at approximately $234,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Scotiabank lifted their target price on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein reduced their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. TD Securities increased their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, UBS Group raised Newmont from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $50.00 in a report on Monday, June 17th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.13.

Newmont Stock Up 4.1 %

NYSE:NEM opened at $43.42 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $41.83 and a 200 day moving average price of $38.11. Newmont Co. has a one year low of $29.42 and a one year high of $45.92.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm’s revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts anticipate that Newmont Co. will post 2.48 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Newmont’s payout ratio is -37.45%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

Newmont Company 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.