Allianz SE Makes New $65.39 Million Investment in Newmont Co. (NYSE:NEM)

Allianz SE bought a new position in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,756,962 shares of the basic materials company's stock, valued at approximately $65,385,000. Newmont accounts for about 1.7% of Allianz SE's investment portfolio, making the stock its 8th largest holding. Allianz SE owned about 0.15% of Newmont as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Allstate Corp bought a new stake in Newmont during the 4th quarter valued at $1,260,000. DnB Asset Management AS raised its holdings in shares of Newmont by 4.5% in the fourth quarter. DnB Asset Management AS now owns 236,433 shares of the basic materials company's stock valued at $8,800,000 after acquiring an additional 10,266 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Newmont by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 345,754 shares of the basic materials company's stock worth $12,869,000 after acquiring an additional 1,426 shares during the period. New Age Alpha Advisors LLC bought a new position in Newmont during the 4th quarter worth about $4,413,000. Finally, Norges Bank purchased a new position in Newmont during the 4th quarter valued at about $626,074,000. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is currently owned by corporate insiders.

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Newmont Trading Up 0.6 %

NYSE NEM traded up $0.30 during mid-day trading on Wednesday, hitting $48.59. The company's stock had a trading volume of 4,962,610 shares, compared to its average volume of 9,678,509. The firm has a market capitalization of $54.77 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 52-week low of $36.44 and a 52-week high of $58.72. The stock's fifty day simple moving average is $45.03 and its two-hundred day simple moving average is $45.35.

Newmont (NYSE:NEM - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $5.32 billion. Research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio is presently 34.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.16.

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.