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:NEM) 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:NEM) 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.

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.