Newmont Corporation $NEM Shares Sold by Regal Partners Ltd

Regal Partners Ltd decreased its position in shares of Newmont Corporation (NYSE:NEM) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,940,248 shares of the basic materials company’s stock after selling 131,069 shares during the quarter. Newmont comprises approximately 11.4% of Regal Partners Ltd’s investment portfolio, making the stock its largest position. Regal Partners Ltd owned approximately 0.18% of Newmont worth $210,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Apella Capital LLC raised its stake in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after buying an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC lifted its holdings in Newmont by 1.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after buying an additional 88 shares during the period. Novem Group boosted its position in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 88 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after acquiring an additional 96 shares during the last quarter. Finally, Coston McIsaac & Partners grew its holdings in Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $91.54 on Wednesday. The firm has a market capitalization of $96.45 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.11 and a beta of 0.46. The firm’s 50-day moving average price is $99.34 and its 200-day moving average price is $109.76. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1-year low of $61.76 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period last year, the business posted $1.43 EPS. Equities research analysts anticipate that Newmont Corporation will post 8.92 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is presently 13.13%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NEM shares. Canaccord Genuity Group lowered their price objective on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Barclays decreased their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Scotiabank dropped their price target on Newmont from $151.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.83.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.