Deutsche Bank AG Makes New $911.18 Million Investment in Newmont Corporation $NEM

Deutsche Bank AG bought a new stake in Newmont Corporation (NYSE:NEM) during the 2nd quarter, HoldingsChannel reports. The fund bought 9,755,675 shares of the basic materials company’s stock, valued at approximately $911,180,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new position in Newmont in the first quarter valued at approximately $25,000. Clearstead Trust LLC acquired a new position in Newmont during the second quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in Newmont during the fourth quarter valued at approximately $26,000. Finally, Cornerstone Planning Group LLC lifted its stake in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Argus set a $110.00 target price on Newmont in a report on Monday, August 3rd. Canaccord Genuity Group lowered their price target on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Bank of America dropped their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group decreased their target price on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $132.59.

Insider Buying and Selling

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the 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 transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,091 shares of company stock worth $3,292,513 in the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $120.35 on Tuesday. Newmont Corporation has a fifty-two week low of $67.20 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $126.81 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. The company’s 50 day moving average price is $99.36 and its two-hundred day moving average price is $108.81.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the previous year, the firm posted $1.43 earnings per share. On average, equities analysts forecast that Newmont Corporation will post 9 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 13.13%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.