Norinchukin Bank The Buys 7,421 Shares of Newmont Co. (NYSE:NEM)

Norinchukin Bank The increased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 14.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 58,211 shares of the basic materials company's stock after buying an additional 7,421 shares during the period. Norinchukin Bank The's holdings in Newmont were worth $2,167,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Newmont during the 4th quarter worth $626,074,000. Capital Research Global Investors increased its stake in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after buying an additional 2,338,953 shares during the period. Renaissance Technologies LLC acquired a new position in Newmont in the 4th quarter valued at approximately $76,281,000. Invesco Ltd. raised its stake in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. Finally, Allianz SE acquired a new stake in Newmont in the fourth quarter valued at $65,385,000. Institutional investors own 68.85% of the company's stock.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock valued at $825,678 over the last three months. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Up 4.2 %

Shares of NEM stock traded up $2.25 during trading hours on Thursday, reaching $55.40. The company had a trading volume of 8,447,627 shares, compared to its average volume of 11,902,614. The business has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $45.15. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. The company has a market cap of $62.45 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. On average, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid 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 1.81%. Newmont's payout ratio is presently 34.13%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NEM. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.02.

Newmont 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.