Assenagon Asset Management S.A. Buys 847,306 Shares of Newmont Corporation $NEM

Assenagon Asset Management S.A. raised its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 76.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,952,493 shares of the basic materials company's stock after buying an additional 847,306 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of Newmont worth $225,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Newmont in the 2nd quarter valued at about $36,180,000. Asset One Wealth Management LLC acquired a new position in Newmont during the second quarter worth about $2,866,000. Private Advisory Group LLC acquired a new position in Newmont during the second quarter worth about $10,430,000. Commerce Bank purchased a new position in shares of Newmont during the 2nd quarter worth approximately $3,418,000. Finally, Capital Financial Group Inc. Co. ADV purchased a new position in shares of Newmont during the 2nd quarter worth approximately $1,135,000. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42. Following the transaction, the chief executive officer owned 127,471 shares in the company, valued at approximately $14,634,945.51. The trade was a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares of the company's stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,973 shares of company stock valued at $3,927,169 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. Barclays cut their target price on shares of Newmont from $125.00 to $124.00 and set an "overweight" rating for the company in a research note on Tuesday, July 28th. TD Securities raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Citigroup lowered their price target on shares of Newmont from $150.00 to $125.00 and set a "buy" rating for the company in a report on Monday, July 20th. Finally, Sanford C. Bernstein cut their price objective on shares of Newmont from $147.00 to $144.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.26.

Newmont Stock Performance

Shares of NEM stock opened at $115.67 on Friday. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a 50 day moving average price of $121.96 and a 200 day moving average price of $110.78. The firm has a market capitalization of $121.88 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. During the same period in the previous year, the company earned $1.43 EPS. Sell-side analysts anticipate that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont's dividend payout ratio is presently 13.13%.

Newmont Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

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