Newmont Co. (NYSE:NEM) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,379,901 shares of the basic materials company's stock after buying an additional 865,213 shares during the period. Assenagon Asset Management S.A. owned approximately 0.21% of Newmont worth $88,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Waverton Investment Management Ltd raised its holdings in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after buying an additional 65,075 shares during the period. Sanctuary Advisors LLC raised its position in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB lifted its stake in Newmont by 173.0% in 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 purchasing an additional 1,578,545 shares during the last quarter. Red Cedar Investment Management LLC purchased a new position in shares of Newmont during the third quarter valued at approximately $1,263,000. Finally, Moody National Bank Trust Division grew its position in Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after acquiring an additional 2,645 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 14,077 shares of company stock valued at $563,080 in the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, November 25th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.80.

Newmont Price Performance

Shares of NEM stock traded up $1.27 during trading hours on Wednesday, hitting $41.43. 11,631,878 shares of the company's stock were exchanged, compared to its average volume of 8,879,699. The firm has a market cap of $47.17 billion, a P/E ratio of -27.26, a P/E/G ratio of 0.35 and a beta of 0.50. The firm has a 50 day moving average of $40.49 and a two-hundred day moving average of $46.90. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. Sell-side analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, November 27th. Newmont's dividend payout ratio is currently -65.79%.

Newmont 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.