Generali Asset Management SPA SGR Makes New $32.74 Million Investment in Newmont Co. (NYSE:NEM)

Generali Asset Management SPA SGR bought a new stake in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 879,693 shares of the basic materials company’s stock, valued at approximately $32,742,000. Newmont comprises approximately 0.8% of Generali Asset Management SPA SGR’s investment portfolio, making the stock its 21st biggest holding. Generali Asset Management SPA SGR owned 0.08% of Newmont at the end of the most recent quarter.

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

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % 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 over the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Trading Up 2.9 %

Newmont stock opened at $47.57 on Tuesday. The company has a 50 day moving average price of $43.39 and a 200 day moving average price of $45.68. Newmont Co. has a 52 week low of $33.29 and a 52 week high of $58.72. 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 firm has a market capitalization of $53.60 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during 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%. Research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. Newmont’s payout ratio is currently 34.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEM. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company 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.