Daiwa Securities Group Inc. Buys 33,614 Shares of Newmont Co. (NYSE:NEM)

Daiwa Securities Group Inc. boosted its position in Newmont Co. (NYSE:NEM - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,395 shares of the basic materials company's stock after buying an additional 33,614 shares during the period. Daiwa Securities Group Inc.'s holdings in Newmont were worth $9,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Waverton Investment Management Ltd increased its stake in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after purchasing an additional 65,075 shares in the last quarter. Red Cedar Investment Management LLC bought a new stake in Newmont in the third quarter valued at $1,263,000. Bessemer Group Inc. increased its stake in Newmont by 7.5% in the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company's stock valued at $271,000 after purchasing an additional 529 shares in the last quarter. Herr Investment Group LLC bought a new stake in Newmont in the second quarter valued at $419,000. Finally, Truist Financial Corp increased its stake in Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company's stock valued at $6,295,000 after purchasing an additional 11,276 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research note on Tuesday, November 19th. UBS Group downgraded shares of Newmont from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. CIBC downgraded shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.31.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

NEM traded down $0.22 during midday trading on Tuesday, reaching $42.25. The company had a trading volume of 6,381,067 shares, compared to its average volume of 10,535,874. 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 stock has a market cap of $48.09 billion, a PE ratio of -27.80, a P/E/G ratio of 0.38 and a beta of 0.51. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business has a 50-day moving average price of $50.01 and a two-hundred day moving average price of $47.51.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm's revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, sell-side analysts expect that Newmont Co. will post 3.09 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Wednesday, November 27th. Newmont's payout ratio is currently -65.79%.

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.