Newmont Corporation $NEM is Allianz SE’s 5th Largest Position

Allianz SE cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,769,056 shares of the basic materials company’s stock after selling 15,631 shares during the quarter. Newmont makes up approximately 3.2% of Allianz SE’s portfolio, making the stock its 5th largest holding. Allianz SE owned 0.16% of Newmont worth $149,149,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Newmont in the second quarter valued at $240,000. Envestnet Asset Management Inc. raised its stake in shares of Newmont by 176.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after purchasing an additional 285,897 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Newmont by 9.7% during the 2nd quarter. Bessemer Group Inc. now owns 12,934 shares of the basic materials company’s stock worth $753,000 after purchasing an additional 1,143 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 2.1%

Shares of NYSE NEM opened at $127.46 on Friday. The stock has a market capitalization of $138.66 billion, a P/E ratio of 19.95, a PEG ratio of 1.07 and a beta of 0.40. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88. The firm’s 50 day simple moving average is $115.20 and its two-hundred day simple moving average is $94.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 3rd. Newmont’s payout ratio is 15.65%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NEM. Canaccord Genuity Group upped their price target on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $177.00 price objective on shares of Newmont in a research note on Wednesday, February 4th. National Bank Financial upped their target price on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Finally, DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.88.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.