Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Takes $6.25 Million Position in Newmont Co. (NYSE:NEM)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 167,909 shares of the basic materials company’s stock, valued at approximately $6,250,000. Newmont comprises 18.5% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings, making the stock its 2nd largest position.

Several other hedge funds have also recently added to or reduced their stakes in NEM. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new position in Newmont in the fourth quarter worth about $37,000. Promus Capital LLC acquired a new position in Newmont in the fourth quarter worth about $38,000. Kestra Investment Management LLC acquired a new position in Newmont in the fourth quarter worth about $43,000. Finally, Assetmark Inc. raised its position in Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 820 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $53.75 on Friday. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72. The stock has a market cap of $59.82 billion, a PE ratio of 18.34, a PEG ratio of 0.41 and a beta of 0.31. 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’s 50 day moving average price is $50.96 and its two-hundred day moving average price is $45.21.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the firm earned $0.55 earnings per share. As a group, analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Newmont in a research report on Thursday, April 24th. National Bankshares reissued a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Finally, National Bank Financial raised shares of Newmont to a “hold” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.52.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is currently owned by insiders.

Newmont 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.