Newmont Corporation (NYSE:NEM) Stock Position Raised by Regal Partners Ltd

Key Points

• Regal Partners Ltd increased its stake in Newmont Corporation by 22.6% in Q1, making it the largest position in their portfolio, now accounting for 11.6% of their holdings.
• Newmont reported robust quarterly earnings, with earnings per share of $1.43, surpassing estimates, and a revenue increase of 20.8% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, representing an annual yield of 1.5%, with a payout ratio of 17.95%.

Regal Partners Ltd increased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 22.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,393,751 shares of the basic materials company's stock after buying an additional 441,998 shares during the period. Newmont accounts for about 11.6% of Regal Partners Ltd's portfolio, making the stock its largest holding. Regal Partners Ltd owned 0.22% of Newmont worth $115,570,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Cerity Partners LLC raised its stake in Newmont by 20.4% in the 4th quarter. Cerity Partners LLC now owns 70,450 shares of the basic materials company's stock worth $2,622,000 after purchasing an additional 11,915 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Newmont in the 4th quarter worth about $35,117,000. Rockefeller Capital Management L.P. raised its stake in Newmont by 4.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 404,700 shares of the basic materials company's stock worth $15,063,000 after purchasing an additional 19,042 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in Newmont by 31.4% in the 4th quarter. Townsquare Capital LLC now owns 30,613 shares of the basic materials company's stock worth $1,139,000 after purchasing an additional 7,314 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 1.2%

Shares of NEM stock traded up $0.84 on Friday, hitting $69.32. The stock had a trading volume of 7,907,348 shares, compared to its average volume of 11,944,745. The business has a 50 day moving average of $60.66 and a 200 day moving average of $52.92. The stock has a market cap of $76.14 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $70.29.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Insiders Place Their Bets

In other news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,246 shares of company stock worth $1,373,251 over the last quarter. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. CIBC set a $74.00 target price on shares of Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average price target of $64.58.

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.