Nikko Asset Management Americas Inc. Sells 10,824 Shares of Newmont Co. (NYSE:NEM)

Nikko Asset Management Americas Inc. trimmed its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,792 shares of the basic materials company's stock after selling 10,824 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Newmont were worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% in 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 purchasing an additional 797,445 shares during the period. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 326,243 shares during the period. Amundi lifted its position in shares of 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 acquiring an additional 1,507,708 shares in the last quarter. Ruffer LLP boosted its holdings in shares of 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 acquiring an additional 1,164,870 shares during the period. Finally, FMR LLC grew its position in shares of 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 purchasing an additional 1,226,697 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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Newmont Price Performance

NYSE:NEM traded down $0.53 during mid-day trading on Friday, reaching $47.23. The stock had a trading volume of 27,907,132 shares, compared to its average volume of 9,398,887. The stock has a market capitalization of $53.22 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. The firm has a 50 day moving average price of $43.94 and a two-hundred day moving average price of $45.67. 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 one year low of $33.77 and a one year high of $58.72.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Newmont's dividend payout ratio (DPR) is currently 34.13%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares of the company's stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEM. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, November 25th. Scotiabank reduced their price objective on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Finally, TD Securities reduced their price target 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.16.

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.