Newmont Co. (NYSE:NEM) Stake Boosted by Regal Partners Ltd

Regal Partners Ltd increased its holdings in shares of Newmont Co. (NYSE:NEM) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169,221 shares of the basic materials company’s stock after acquiring an additional 97,590 shares during the period. Newmont makes up 5.5% of Regal Partners Ltd’s investment portfolio, making the stock its 6th largest holding. Regal Partners Ltd’s holdings in Newmont were worth $62,495,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Hoese & Co LLP bought a new position in shares of Newmont in the third quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in Newmont during the third quarter valued at approximately $32,000. Meeder Asset Management Inc. bought a new position in Newmont during the second quarter valued at approximately $27,000. LRI Investments LLC bought a new position in Newmont during the first quarter valued at approximately $25,000. Finally, Northwest Investment Counselors LLC bought a new position in Newmont during the third quarter valued at approximately $48,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $41.23 on Thursday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $51.73 and a 200 day moving average price of $47.45. The stock has a market cap of $46.94 billion, a PE ratio of -27.12, a P/E/G ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.43%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NEM. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Royal Bank of Canada decreased their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.14.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $2,444,440 in the last three months. Company insiders own 0.06% of the company’s stock.

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.