Regal Partners Ltd Acquires 97,590 Shares of Newmont Co. (NYSE:NEM)

Regal Partners Ltd raised its position in shares of Newmont Co. (NYSE:NEM) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 5.5% of Regal Partners Ltd’s investment portfolio, making the stock its 6th largest position. Regal Partners Ltd owned about 0.10% of Newmont worth $62,495,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new stake in shares of Newmont during the third quarter worth approximately $374,000. Main Street Financial Solutions LLC boosted its stake in shares of Newmont by 6.7% in the third quarter. Main Street Financial Solutions LLC now owns 7,050 shares of the basic materials company’s stock valued at $377,000 after buying an additional 442 shares during the period. Parametrica Management Ltd bought a new stake in Newmont during the third quarter worth $208,000. Oppenheimer & Co. Inc. lifted its stake in Newmont by 7.6% during the third quarter. Oppenheimer & Co. Inc. now owns 253,849 shares of the basic materials company’s stock worth $13,568,000 after purchasing an additional 17,854 shares during the last quarter. Finally, Empower Advisory Group LLC increased its holdings in shares of Newmont by 1.3% during the third quarter. Empower Advisory Group LLC now owns 1,786,315 shares of the basic materials company’s stock worth $95,479,000 after buying an additional 22,773 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. Bernstein Bank upped their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday. BMO Capital Markets increased their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. CIBC downgraded 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 Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Newmont Trading Down 0.8 %

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

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

Newmont Announces Dividend

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

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.