Regal Partners Ltd Sells 131,069 Shares of Newmont Corporation $NEM

Regal Partners Ltd decreased its holdings in Newmont Corporation (NYSE:NEM) by 6.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,940,248 shares of the basic materials company’s stock after selling 131,069 shares during the quarter. Newmont accounts for 11.4% of Regal Partners Ltd’s investment portfolio, making the stock its biggest holding. Regal Partners Ltd’s holdings in Newmont were worth $210,032,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Newmont by 1.7% during the 1st quarter. Empowered Funds LLC now owns 553,178 shares of the basic materials company’s stock worth $59,882,000 after purchasing an additional 9,317 shares in the last quarter. Extract Advisors LLC bought a new position in shares of Newmont in the first quarter valued at approximately $985,000. KCM Investment Advisors LLC lifted its holdings in shares of Newmont by 16.8% in the first quarter. KCM Investment Advisors LLC now owns 24,302 shares of the basic materials company’s stock valued at $2,631,000 after purchasing an additional 3,489 shares in the last quarter. Excelsior Advisor Network LLC purchased a new position in shares of Newmont during the first quarter valued at approximately $216,000. Finally, Quantinno Capital Management LP boosted its position in shares of Newmont by 12.5% during the first quarter. Quantinno Capital Management LP now owns 496,742 shares of the basic materials company’s stock valued at $53,772,000 after buying an additional 55,176 shares during the last quarter. 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 company’s 50-day moving average is $99.34 and its 200 day moving average is $109.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market capitalization of $96.45 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $61.76 and a fifty-two week high of $134.88.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEM. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Newmont in a report on Tuesday. BMO Capital Markets reduced their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.83.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is currently owned by company insiders.

About Newmont

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.