Deutsche Bank AG Invests $911.18 Million in Newmont Corporation $NEM

Deutsche Bank AG bought a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,755,675 shares of the basic materials company’s stock, valued at approximately $911,180,000. Deutsche Bank AG owned about 0.93% of Newmont at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Newmont in the second quarter valued at about $240,000. Cerity Partners LLC raised its position in shares of Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.2%

NEM stock opened at $120.35 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company’s 50-day simple moving average is $99.36 and its 200 day simple moving average is $108.81. Newmont Corporation has a 52 week low of $67.20 and a 52 week high of $134.88. The company has a market capitalization of $126.81 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during 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 company earned $1.43 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders 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 currently 13.13%.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The shares were 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 of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,091 shares of company stock worth $3,292,513. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. TD lifted their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada lowered their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $170.00 price objective on Newmont in a report on Friday. Finally, Barclays decreased their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.59.

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.