Resona Asset Management Co. Ltd. Purchases New Shares in Newmont Co. (NYSE:NEM)

Resona Asset Management Co. Ltd. acquired a new position in Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 354,132 shares of the basic materials company's stock, valued at approximately $13,212,000.

Other hedge funds have also recently made changes to their positions in the company. Systematic Alpha Investments LLC purchased a new stake in shares of Newmont during the fourth quarter worth approximately $330,000. Trexquant Investment LP grew its holdings in shares of Newmont by 97.0% during the fourth quarter. Trexquant Investment LP now owns 442,340 shares of the basic materials company's stock worth $16,464,000 after purchasing an additional 217,841 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Newmont in the fourth quarter valued at approximately $1,313,000. Geode Capital Management LLC grew its position in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Finally, Nemes Rush Group LLC increased its position in Newmont by 206.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,013 shares of the basic materials company's stock valued at $75,000 after acquiring an additional 1,357 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at $2,094,408.36. The trade was 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 worth $1,388,758 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

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Newmont Price Performance

NEM traded up $2.09 during trading on Thursday, reaching $50.84. The stock had a trading volume of 11,174,544 shares, compared to its average volume of 9,751,312. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $45.78 and a two-hundred day moving average of $45.08. The firm has a market capitalization of $57.31 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities analysts anticipate that Newmont Co. will post 3.45 EPS 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 issued a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. Newmont's dividend payout ratio is 34.13%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Raymond James raised their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. Finally, TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.09.

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.