Erste Asset Management GmbH Takes $11.80 Million Position in Newmont Co. (NYSE:NEM)

Erste Asset Management GmbH acquired a new stake in Newmont Co. (NYSE:NEM) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 218,993 shares of the basic materials company’s stock, valued at approximately $11,800,000.

Other large investors have also bought and sold shares of the company. Maj Invest Holding A S boosted its stake in shares of Newmont by 296.0% in the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after purchasing an additional 2,561,823 shares in the last quarter. Van ECK Associates Corp boosted its position in Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares in the last quarter. FMR LLC increased its holdings in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after buying an additional 1,096,905 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after acquiring an additional 1,088,742 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NEM shares. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. CLSA initiated coverage on shares of Newmont in a research report on Friday. They set an “underperform” rating on the stock. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Royal Bank of Canada cut their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.2 %

Shares of NYSE:NEM opened at $41.94 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business’s 50-day moving average is $49.09 and its 200-day moving average is $47.49. The company has a market capitalization of $47.75 billion, a price-to-earnings ratio of -27.59, a P/E/G ratio of 0.36 and a beta of 0.51.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Equities research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

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.