Newmont Corporation $NEM Shares Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR grew its position in shares of Newmont Corporation (NYSE:NEM) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 764,758 shares of the basic materials company’s stock after acquiring an additional 18,064 shares during the quarter. Newmont comprises about 1.6% of Generali Asset Management SPA SGR’s investment portfolio, making the stock its 12th largest holding. Generali Asset Management SPA SGR’s holdings in Newmont were worth $76,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the period. Legal & General Group Plc boosted its holdings in shares of Newmont by 9.6% during the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after acquiring an additional 711,940 shares during the period. Boston Partners boosted its holdings in shares of Newmont by 49.3% during the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after acquiring an additional 2,288,653 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Newmont by 16.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock valued at $498,928,000 after acquiring an additional 692,560 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Newmont by 33.8% during the third quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock valued at $414,270,000 after acquiring an additional 1,244,845 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 over the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $113.38 on Friday. The company has a market capitalization of $121.03 billion, a P/E ratio of 14.71, a PEG ratio of 1.64 and a beta of 0.43. The company has a 50-day simple moving average of $112.91 and a 200 day simple moving average of $105.96. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Sell-side analysts predict that Newmont Corporation will post 9.5 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEM. The Goldman Sachs Group boosted their price target on shares of Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a report on Tuesday, April 28th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. BMO Capital Markets upped their price objective on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Bank of America upped their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $142.51.

Newmont Profile

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.