Newmont Co. (NYSE:NEM) is Regal Partners Ltd's 6th Largest Position

Regal Partners Ltd grew its holdings in Newmont Co. (NYSE:NEM - Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,169,221 shares of the basic materials company's stock after purchasing an additional 97,590 shares during the period. Newmont makes up about 5.5% of Regal Partners Ltd's portfolio, making the stock its 6th biggest position. Regal Partners Ltd owned about 0.10% of Newmont worth $62,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mizuho Securities Co. Ltd. bought a new stake in Newmont during the 3rd quarter worth $374,000. Main Street Financial Solutions LLC grew its position in Newmont by 6.7% during the 3rd quarter. Main Street Financial Solutions LLC now owns 7,050 shares of the basic materials company's stock worth $377,000 after acquiring an additional 442 shares during the last quarter. Parametrica Management Ltd bought a new stake in Newmont during the 3rd quarter worth $208,000. Oppenheimer & Co. Inc. grew its position in Newmont by 7.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 253,849 shares of the basic materials company's stock worth $13,568,000 after acquiring an additional 17,854 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in Newmont by 1.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,786,315 shares of the basic materials company's stock worth $95,479,000 after acquiring an additional 22,773 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NEM shares. Jefferies Financial Group upped their price target on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Royal Bank of Canada reduced their price target on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 24th. Scotiabank lowered Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, Veritas upgraded Newmont to a "strong-buy" rating in a research report on Monday, September 30th. Nine research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.14.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 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 value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Down 1.4 %

NEM stock traded down $0.56 during trading on Thursday, reaching $40.67. 16,484,162 shares of the stock were exchanged, compared to its average volume of 10,541,849. The firm's 50 day moving average is $51.52 and its 200 day moving average is $47.41. Newmont Co. has a twelve month low of $29.42 and a twelve 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 firm has a market cap of $46.30 billion, a P/E ratio of -26.76, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. As a group, research analysts forecast that Newmont Co. will post 3.15 EPS 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont's dividend payout ratio is currently -65.79%.

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.