Mitsubishi UFJ Asset Management Co. Ltd. Buys 105,538 Shares of Newmont Co. (NYSE:NEM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,816,370 shares of the basic materials company’s stock after acquiring an additional 105,538 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Newmont were worth $69,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Van ECK Associates Corp boosted its position in Newmont by 1.6% during the fourth 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 acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Newmont by 1.4% during the 3rd 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 purchasing an additional 326,243 shares in the last quarter. Amundi grew its stake in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the period. Ruffer LLP increased 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 in the last quarter. Finally, FMR LLC lifted its stake in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 in the last ninety days. Company insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.7 %

NEM opened at $48.06 on Friday. Newmont Co. has a fifty-two week low of $36.10 and a fifty-two week high of $58.72. The firm has a market capitalization of $54.17 billion, a P/E ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54. The company’s 50-day moving average is $44.78 and its 200 day moving average is $45.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for 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%. Research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Analysts Set New Price Targets

Several brokerages have recently commented on NEM. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.16.

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.