Talaria Asset Management Pty Ltd Invests $35.99 Million in Newmont Co. (NYSE:NEM)

Talaria Asset Management Pty Ltd bought a new position in shares of Newmont Co. (NYSE:NEMFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 967,000 shares of the basic materials company’s stock, valued at approximately $35,992,000. Newmont comprises 9.3% of Talaria Asset Management Pty Ltd’s holdings, making the stock its 6th biggest position. Talaria Asset Management Pty Ltd owned about 0.08% of Newmont at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new stake in Newmont during the fourth quarter valued at about $626,074,000. Voloridge Investment Management LLC acquired a new position in Newmont in the 4th quarter valued at approximately $92,693,000. Capital Research Global Investors lifted its position in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $76,281,000. Finally, Invesco Ltd. lifted its position in shares of Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after acquiring an additional 2,028,150 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $53.75 on Monday. The firm has a market cap of $59.82 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The stock’s 50-day moving average is $50.96 and its 200-day moving average is $45.21. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period in the previous year, the company posted $0.55 earnings per share. Equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, May 27th. Newmont’s dividend payout ratio is currently 22.42%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cfra Research upgraded Newmont to a “strong-buy” rating in a research report on Friday, April 25th. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research report on Thursday, April 24th. Finally, Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $56.52.

Read Our Latest Stock Report on NEM

Newmont Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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