Mizuho Securities USA LLC Raises Holdings in Newmont Co. (NYSE:NEM)

Mizuho Securities USA LLC boosted its position in Newmont Co. (NYSE:NEM) by 45.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,899 shares of the basic materials company’s stock after purchasing an additional 33,494 shares during the period. Mizuho Securities USA LLC’s holdings in Newmont were worth $4,016,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NEM. Avior Wealth Management LLC increased its stake in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC acquired a new stake in Newmont during the 4th quarter valued at $38,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Newmont during the 4th quarter valued at $43,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 1.1 %

Shares of NEM opened at $47.23 on Monday. The company has a 50-day simple moving average of $44.10 and a 200-day simple moving average of $45.54. The firm has a market capitalization of $53.24 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. 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 52 week low of $33.86 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. On average, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 annualized dividend and a yield of 2.12%. Newmont’s dividend payout ratio is 34.13%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. TD Securities decreased their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

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.