Allianz SE Takes $65.39 Million Position in Newmont Co. (NYSE:NEM)

Allianz SE purchased a new position in Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,756,962 shares of the basic materials company’s stock, valued at approximately $65,385,000. Newmont makes up 1.7% of Allianz SE’s investment portfolio, making the stock its 8th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC lifted its stake in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Promus Capital LLC bought a new position in Newmont in the 4th quarter valued at approximately $38,000. McIlrath & Eck LLC boosted its stake in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Newmont in the fourth quarter worth $43,000. Finally, Assetmark Inc. lifted its stake in Newmont by 185.9% during the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 820 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 in the last three months. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Down 0.7 %

Shares of NEM stock opened at $48.06 on Friday. The company has a market cap of $54.17 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. 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 stock’s 50 day simple moving average is $44.78 and its two-hundred day simple moving average is $45.50. Newmont Co. has a 1 year low of $36.10 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. Newmont’s payout ratio is currently 34.13%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEM. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.16.

About Newmont

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.