Newmont Corporation (NYSE:NEM) Shares Purchased by Allianz SE

Key Points

• Allianz SE increased its holdings in Newmont Corporation by 3.0% in Q1, owning 1,809,076 shares, which constitutes approximately 2.3% of its portfolio.
• Newmont's recent quarterly earnings reported an EPS of $1.43, significantly exceeding analysts' expectations of $0.95.
• The company declared a quarterly dividend of $0.25, which will be paid on September 29th, representing an annual yield of 1.6%.

Allianz SE lifted its position in Newmont Corporation (NYSE:NEM - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,809,076 shares of the basic materials company's stock after purchasing an additional 52,114 shares during the period. Newmont comprises about 2.3% of Allianz SE's portfolio, making the stock its 6th biggest holding. Allianz SE owned about 0.16% of Newmont worth $87,342,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NEM. Bessemer Group Inc. grew its stake in Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after acquiring an additional 1,379 shares during the period. First Trust Advisors LP grew its stake in Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock valued at $3,575,000 after acquiring an additional 8,678 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Newmont in the 1st quarter valued at $423,000. Spire Wealth Management grew its stake in Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 1,309 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in Newmont in the 1st quarter valued at $202,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 1.9%

Shares of NEM stock traded up $1.27 during trading hours on Tuesday, reaching $66.69. 4,249,196 shares of the stock were exchanged, compared to its average volume of 12,106,962. The business's fifty day moving average is $58.33 and its two-hundred day moving average is $51.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $67.34. The firm has a market capitalization of $73.26 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.76 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm's revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is currently 17.95%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,154 shares of company stock worth $572,889 over the last quarter. 0.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEM shares. Raymond James Financial lifted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, UBS Group lifted their price target on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

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.