Tokio Marine Asset Management Co. Ltd. Purchases 9,728 Shares of Newmont Co. (NYSE:NEM)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 59.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,060 shares of the basic materials company’s stock after purchasing an additional 9,728 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Newmont were worth $1,079,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NEM. TFC Financial Management Inc. increased its stake in Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after buying an additional 499 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Newmont in the 3rd quarter worth approximately $26,000. Life Planning Partners Inc purchased a new position in Newmont during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in Newmont during the 3rd quarter worth approximately $30,000. Finally, CVA Family Office LLC purchased a new position in shares of Newmont during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. TD Securities reduced their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Citigroup dropped their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Scotiabank lowered their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Finally, Jefferies Financial Group initiated coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.89.

Newmont Trading Down 1.1 %

Shares of NEM stock traded down $0.46 during mid-day trading on Friday, hitting $42.95. The company’s stock had a trading volume of 4,406,532 shares, compared to its average volume of 13,668,537. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The company has a market cap of $49.51 billion, a PE ratio of -18.05, a P/E/G ratio of 1.07 and a beta of 0.50. The company’s fifty day simple moving average is $35.35 and its 200-day simple moving average is $36.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 50.2% on a year-over-year basis. As a group, equities research analysts expect that Newmont Co. will post 1.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is -42.02%.

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.