Generali Investments Management Co LLC Takes $126,000 Position in Newmont Co. (NYSE:NEM)

Generali Investments Management Co LLC acquired a new position in Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,386 shares of the basic materials company’s stock, valued at approximately $126,000.

A number of other hedge funds have also bought and sold shares of the business. Studio Investment Management LLC raised its stake in Newmont by 29.4% during the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 281 shares during the period. Howard Capital Management Inc. boosted its position in Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. grew its stake in shares of Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 300 shares during the period. Finally, Fiduciary Financial Group LLC increased its position in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NEM shares. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. One equities 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 company. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’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 sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % 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 valued at $1,388,758 in the last quarter. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

NEM stock opened at $48.00 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company’s fifty day moving average price is $43.76 and its 200-day moving average price is $45.66. Newmont Co. has a one year low of $33.29 and a one year high of $58.72. The company has a market capitalization of $54.09 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Newmont Company Profile

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.