Assenagon Asset Management S.A. Acquires 865,213 Shares of Newmont Co. (NYSE:NEM)

Assenagon Asset Management S.A. boosted its holdings in Newmont Co. (NYSE:NEM) by 57.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379,901 shares of the basic materials company’s stock after purchasing an additional 865,213 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of Newmont worth $88,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Waverton Investment Management Ltd raised its holdings in Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the last quarter. Nordea Investment Management AB raised its position in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC bought a new position in shares of Newmont in the 3rd quarter valued at about $1,263,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Newmont by 99.8% in the 3rd quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock valued at $32,138,000 after purchasing an additional 300,400 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NEM shares. Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday. They issued a “buy” rating and a $47.20 price target on the stock. Royal Bank of Canada decreased their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.80.

Newmont Price Performance

Shares of NEM opened at $40.19 on Wednesday. The business’s 50 day moving average price is $40.49 and its two-hundred day moving average price is $46.90. The firm has a market cap of $45.75 billion, a PE ratio of -26.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. 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 $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, equities analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

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.