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

Assenagon Asset Management S.A. cut its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 87.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 292,828 shares of the basic materials company's stock after selling 2,087,073 shares during the period. Assenagon Asset Management S.A.'s holdings in Newmont were worth $14,138,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. raised its stake in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares during the last quarter. Nexus Investment Management ULC bought a new stake in shares of Newmont during the 1st quarter valued at $31,000. Redwood Park Advisors LLC bought a new stake in shares of Newmont during the 4th quarter valued at $37,000. Promus Capital LLC bought a new stake in shares of Newmont during the 4th quarter valued at $38,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Newmont during the 4th quarter valued at $43,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares in the company, valued at $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last three months. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Up 3.5%

NEM stock traded up $1.95 during trading on Friday, hitting $57.87. 19,673,056 shares of the company's stock traded hands, compared to its average volume of 10,371,448. The firm has a market capitalization of $64.41 billion, a P/E ratio of 19.75, a PEG ratio of 0.41 and a beta of 0.31. The business has a fifty day simple moving average of $53.00 and a two-hundred day simple moving average of $46.41. 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 1 year low of $36.86 and a 1 year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.73%. Newmont's dividend payout ratio (DPR) is 22.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NEM shares. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Royal Bank of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $57.68.

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.