Mizuho Securities Co. Ltd. Takes $374,000 Position in Newmont Co. (NYSE:NEM)

Mizuho Securities Co. Ltd. bought a new stake in Newmont Co. (NYSE:NEM) during the third quarter, HoldingsChannel reports. The fund bought 7,000 shares of the basic materials company’s stock, valued at approximately $374,000. Newmont comprises about 0.9% of Mizuho Securities Co. Ltd.’s portfolio, making the stock its 28th largest position.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after purchasing an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. Legal & General Group Plc grew its position in shares of Newmont by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after buying an additional 109,084 shares during the period. Dimensional Fund Advisors LP lifted its position in Newmont by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after acquiring an additional 545,903 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Newmont by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after acquiring an additional 313,736 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.3 %

NEM stock traded down $0.12 during midday trading on Wednesday, reaching $41.46. 3,711,366 shares of the company traded hands, compared to its average volume of 10,460,721. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $51.73 and a 200-day moving average of $47.45. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. On average, sell-side analysts forecast that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NEM shares. Bernstein Bank upped their price target on Newmont from $55.00 to $58.00 in a research note on Monday. BMO Capital Markets upped their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Raymond James boosted their price target on Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $54.14.

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.