Erste Asset Management GmbH Acquires 11,014 Shares of Newmont Co. (NYSE:NEM)

Erste Asset Management GmbH grew its holdings in Newmont Co. (NYSE:NEM) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 230,007 shares of the basic materials company’s stock after buying an additional 11,014 shares during the quarter. Erste Asset Management GmbH’s holdings in Newmont were worth $8,701,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB raised its holdings in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares during the period. Brookstone Capital Management acquired a new stake in Newmont in the 4th quarter valued at $245,000. Finally, Moody National Bank Trust Division grew its position in Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 2,645 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 4.6 %

NYSE:NEM opened at $45.63 on Friday. The stock’s fifty day simple moving average is $43.03 and its 200-day simple moving average is $45.85. The firm has a market capitalization of $51.42 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.41 and a beta of 0.54. 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 12-month low of $33.29 and a 12-month high of $58.72.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NEM. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada increased their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Buying and Selling

In other news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by company insiders.

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.