Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Has $4.66 Million Stock Holdings in Newmont Corporation (NYSE:NEM)

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reduced its stake in Newmont Corporation by 42.5%, selling 71,300 shares and marking the company as its largest holding at 20% of its portfolio.
• Newmont's earnings report showed a profit of $1.43 EPS, exceeding estimates, and revenue of $5.32 billion, reflecting a 20.8% year-over-year increase.
• Several analysts have recently upgraded their ratings on Newmont, with price targets ranging from $60.90 to $69.00, indicating a consensus rating of "Moderate Buy."

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reduced its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 42.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,609 shares of the basic materials company's stock after selling 71,300 shares during the quarter. Newmont accounts for approximately 20.0% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings, making the stock its biggest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Newmont were worth $4,664,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its holdings in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in Newmont in the 1st quarter valued at $26,000. Private Trust Co. NA grew its position in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares during the period. Nexus Investment Management ULC acquired a new position in Newmont during the first quarter worth $31,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Newmont by 123.1% during the first quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 362 shares during the period. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the transaction, the executive vice president owned 74,526 shares in the company, valued at approximately $4,378,402.50. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,154 shares of company stock valued at $572,889 over the last three months. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

NEM stock traded up $2.83 during trading hours on Monday, hitting $65.42. 9,763,123 shares of the stock were exchanged, compared to its average volume of 13,063,871. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $66.57. The firm has a market capitalization of $71.86 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.76 and a beta of 0.30. The company has a 50-day simple moving average of $58.10 and a two-hundred day simple moving average of $51.42.

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

Newmont Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Stifel Nicolaus began coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target on the stock. Raymond James Financial boosted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Finally, CIBC set a $74.00 target price on Newmont and gave the company a "neutral" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $64.58.

About Newmont

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.