Allianz SE Sells 24,389 Shares of Newmont Corporation $NEM

Allianz SE cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,784,687 shares of the basic materials company’s stock after selling 24,389 shares during the quarter. Newmont accounts for about 2.5% of Allianz SE’s investment portfolio, making the stock its 6th largest holding. Allianz SE owned 0.16% of Newmont worth $103,976,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NEM. Brighton Jones LLC grew its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Newmont by 25.7% during the 1st quarter. Allworth Financial LP now owns 6,037 shares of the basic materials company’s stock valued at $291,000 after buying an additional 1,234 shares during the period. Schechter Investment Advisors LLC purchased a new position in shares of Newmont during the 1st quarter valued at $218,000. CWM LLC grew its holdings in shares of Newmont by 12.7% during the 1st quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock valued at $901,000 after acquiring an additional 2,103 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Newmont by 28.2% in the first quarter. Bleakley Financial Group LLC now owns 18,986 shares of the basic materials company’s stock worth $917,000 after acquiring an additional 4,179 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America lifted their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Citigroup boosted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.99.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by insiders.

Newmont Trading Up 3.5%

Shares of Newmont stock opened at $93.12 on Thursday. The company’s fifty day simple moving average is $84.05 and its 200-day simple moving average is $68.31. The company has a market cap of $101.62 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.53 and a beta of 0.33. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is currently 15.53%.

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.