Assenagon Asset Management S.A. Purchases 865,213 Shares of Newmont Co. (NYSE:NEM)

Assenagon Asset Management S.A. raised its position in Newmont Co. (NYSE:NEM) by 57.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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.’s holdings in Newmont were worth $88,580,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NEM. Waverton Investment Management Ltd increased its stake in shares of Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Newmont by 117.3% during 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 in the last quarter. Nordea Investment Management AB grew its holdings in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC bought a new stake in shares of Newmont during the third quarter valued at about $1,263,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Newmont by 99.8% in the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock worth $32,138,000 after buying an additional 300,400 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 2.6 %

NEM opened at $40.19 on Wednesday. The business has a 50 day simple moving average of $40.49 and a two-hundred day simple moving average of $46.90. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The firm has a market capitalization of $45.75 billion, a price-to-earnings ratio of -26.44, a PEG ratio of 0.35 and a beta of 0.50. 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 (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. Analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.49%. Newmont’s payout ratio is -65.79%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NEM shares. The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday. They set a “buy” rating and a $47.20 target price on the stock. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. One investment 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 stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by corporate 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.