Newmont Corporation $NEM is Regal Partners Ltd’s 3rd Largest Position

Regal Partners Ltd reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,089,404 shares of the basic materials company’s stock after selling 304,347 shares during the quarter. Newmont accounts for about 10.1% of Regal Partners Ltd’s investment portfolio, making the stock its 3rd largest holding. Regal Partners Ltd’s holdings in Newmont were worth $121,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC lifted its stake in Newmont by 59.6% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares during the last quarter. Generate Investment Management Ltd lifted its stake in Newmont by 25.9% during the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after purchasing an additional 77,865 shares during the last quarter. Banco Santander S.A. lifted its stake in Newmont by 2,244.4% during the second quarter. Banco Santander S.A. now owns 128,284 shares of the basic materials company’s stock worth $7,474,000 after purchasing an additional 122,812 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Newmont by 25.0% during the second quarter. Teacher Retirement System of Texas now owns 526,220 shares of the basic materials company’s stock worth $30,658,000 after purchasing an additional 105,334 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in Newmont in the second quarter worth $241,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NEM. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. UBS Group increased their target price on Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. TD Securities increased their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the stock an “outperform” rating in a research report on Friday, October 24th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.92.

Insider Transactions at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,172 shares of company stock worth $808,863. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $80.85 on Friday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The firm’s 50-day simple moving average is $82.25 and its 200 day simple moving average is $66.63. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $88.23 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.53 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

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.