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

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Newmont Co. (NYSE:NEM - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 670,005 shares of the basic materials company's stock after selling 34,214 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Newmont worth $24,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. HHM Wealth Advisors LLC increased its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Newmont during the fourth quarter worth about $38,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after acquiring an additional 361 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Newmont during the fourth quarter worth $43,000. Finally, Assetmark Inc. grew its stake in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after purchasing an additional 820 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by corporate insiders.

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Newmont Stock Up 0.6 %

Newmont stock traded up $0.31 during mid-day trading on Monday, reaching $48.39. The stock had a trading volume of 6,420,228 shares, compared to its average volume of 9,687,606. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a fifty-two week low of $36.10 and a fifty-two week high of $58.72. The stock's 50-day simple moving average is $44.78 and its 200-day simple moving average is $45.42. The firm has a market capitalization of $54.54 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, sell-side analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont's payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 target price for the company. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. TD Securities decreased 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. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.16.

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.