Newmont Corporation $NEM Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 83.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 761,115 shares of the basic materials company’s stock after selling 3,931,491 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Newmont worth $64,170,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Colonial Trust Advisors grew its position in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners raised its position in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Capital A Wealth Management LLC grew its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the period. Finally, Caldwell Trust Co purchased a new position in shares of Newmont in the 2nd quarter valued at about $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup upped their price target on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BNP Paribas Exane cut Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective for the company. in a research report on Friday, December 5th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Bank of America increased their target price on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $120.00 price target on shares of Newmont in a report on Sunday, December 7th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Newmont has an average rating of “Buy” and an average price target of $96.37.

Newmont Stock Up 1.3%

Shares of NYSE NEM opened at $99.28 on Thursday. The stock has a market cap of $108.34 billion, a PE ratio of 15.42, a P/E/G ratio of 0.68 and a beta of 0.41. 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 12-month low of $36.86 and a 12-month high of $102.13. The company has a 50-day moving average of $88.51 and a 200 day moving average of $75.06.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Newmont’s payout ratio is presently 15.53%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,240 shares of company stock valued at $943,985 in the last three months. 0.05% of the stock is currently owned by insiders.

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.