Regal Partners Ltd Purchases 782,532 Shares of Newmont Co. (NYSE:NEM)

Regal Partners Ltd raised its stake in Newmont Co. (NYSE:NEM) by 66.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,951,753 shares of the basic materials company’s stock after acquiring an additional 782,532 shares during the period. Newmont makes up 7.4% of Regal Partners Ltd’s investment portfolio, making the stock its 6th largest position. Regal Partners Ltd’s holdings in Newmont were worth $72,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its position in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after buying an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in Newmont in the fourth quarter valued at approximately $626,074,000. Northern Trust Corp boosted its holdings in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the period. Finally, Amundi grew its position in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the transaction, the chief operating officer now directly owns 136,967 shares in the company, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NEM. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. National Bankshares reissued a “sector perform” rating on shares of Newmont in a report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.63.

Newmont Price Performance

Shares of NYSE NEM opened at $52.95 on Wednesday. The company’s fifty day moving average is $48.12 and its two-hundred day moving average is $45.12. 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 $59.69 billion, a P/E ratio of 18.07, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $36.86 and a one year high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, May 27th. Newmont’s payout ratio is currently 22.42%.

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.