Asahi Life Asset Management CO. LTD. Acquires Shares of 8,930 Newmont Co. (NYSE:NEM)

Asahi Life Asset Management CO. LTD. bought a new position in Newmont Co. (NYSE:NEM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,930 shares of the basic materials company’s stock, valued at approximately $477,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Heathbridge Capital Management Ltd. grew its position in Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB increased its position in shares of Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after acquiring an additional 200 shares during the last quarter. Fulton Bank N.A. lifted its holdings in Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 221 shares during the period. Good Life Advisors LLC boosted its position in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. grew its position in Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock valued at $2,683,000 after buying an additional 233 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock traded up $0.05 during midday trading on Monday, reaching $48.47. 3,420,479 shares of the stock were exchanged, compared to its average volume of 10,329,057. The company’s fifty day moving average is $53.39 and its 200-day moving average is $46.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a market cap of $55.89 billion, a PE ratio of -18.13, a PEG ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business posted $0.36 EPS. The company’s quarterly revenue was up 84.7% on a year-over-year basis. On average, sell-side analysts forecast that Newmont Co. will post 3.07 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock valued at $3,434,640 over the last three months. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on NEM shares. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Raymond James upped their price objective on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group upped their price target on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.85.

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.