Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Newmont Co. (NYSE:NEM) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 670,005 shares of the basic materials company’s stock after selling 34,214 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Newmont were worth $24,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC lifted its position in Newmont by 1.4% during the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after acquiring an additional 326,243 shares during the last quarter. Amundi boosted its stake in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after acquiring an additional 1,507,708 shares in the last quarter. Ruffer LLP grew its holdings in Newmont by 19.7% in the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after purchasing an additional 1,164,870 shares during the last quarter. Finally, FMR LLC increased its position in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NEM shares. CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada lifted their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Up 2.1 %

NYSE NEM opened at $48.38 on Friday. Newmont Co. has a 1 year low of $35.37 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $54.53 billion, a PE ratio of 16.51, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a fifty day moving average of $44.65 and a 200 day moving average of $45.52.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Newmont’s payout ratio is 34.13%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

About Newmont

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.