879,693 Shares in Newmont Co. (NYSE:NEM) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR purchased a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 879,693 shares of the basic materials company's stock, valued at approximately $32,742,000. Newmont accounts for 0.8% of Generali Asset Management SPA SGR's portfolio, making the stock its 21st biggest holding. Generali Asset Management SPA SGR owned 0.08% of Newmont at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Horizon Investments LLC lifted its stake in shares of Newmont by 1.6% during the fourth quarter. Horizon Investments LLC now owns 19,885 shares of the basic materials company's stock valued at $740,000 after buying an additional 317 shares during the period. Advisors Asset Management Inc. grew its holdings in Newmont by 23.3% during the 4th quarter. Advisors Asset Management Inc. now owns 72,300 shares of the basic materials company's stock valued at $2,691,000 after purchasing an additional 13,645 shares in the last quarter. Retirement Planning Co of New England Inc. grew its holdings in Newmont by 33.6% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 13,206 shares of the basic materials company's stock valued at $492,000 after purchasing an additional 3,319 shares in the last quarter. Cadence Wealth Management LLC boosted its stake in Newmont by 3.9% during the 4th quarter. Cadence Wealth Management LLC now owns 14,071 shares of the basic materials company's stock valued at $524,000 after acquiring an additional 531 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in Newmont by 88.7% during the 4th quarter. Cibc World Markets Corp now owns 630,895 shares of the basic materials company's stock valued at $23,482,000 after acquiring an additional 296,645 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts recently weighed in on NEM shares. Royal Bank of Canada lifted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Raymond James decreased their price target on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, November 25th. Scotiabank reduced their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 target price on the stock. Finally, CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They issued an "underperform" rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.16.

Newmont Price Performance

Shares of NEM stock traded down $0.53 during mid-day trading on Friday, hitting $47.23. The company had a trading volume of 27,907,685 shares, compared to its average volume of 9,377,274. The company has a market capitalization of $53.22 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. The stock's 50 day moving average price is $44.10 and its 200-day moving average price is $45.63. 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 $33.77 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont's payout ratio is 34.13%.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company's stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were 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 directly owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last three months. 0.06% of the stock is owned by insiders.

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.