Talaria Asset Management Pty Ltd Has $46.10 Million Stock Position in Newmont Corporation $NEM

Key Points

• Talaria Asset Management Pty Ltd reduced its stake in Newmont Corporation (NYSE:NEM) by 1.3%, now holding 954,800 shares valued at approximately $46.1 million, making it the firm's 4th largest holding.
• Newmont announced a quarterly dividend of $0.25 per share, set to be paid on September 29th, representing an annualized dividend yield of 1.4%.
• The company's recent earnings report showed a significant 20.8% increase in revenue year-over-year, with earnings per share (EPS) of $1.43, exceeding analyst expectations.

Talaria Asset Management Pty Ltd lowered its stake in Newmont Corporation (NYSE:NEM - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 954,800 shares of the basic materials company's stock after selling 12,200 shares during the quarter. Newmont comprises approximately 15.3% of Talaria Asset Management Pty Ltd's holdings, making the stock its 4th largest holding. Talaria Asset Management Pty Ltd owned 0.09% of Newmont worth $46,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in NEM. Bessemer Group Inc. lifted its position in Newmont by 13.2% during the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock valued at $569,000 after acquiring an additional 1,379 shares during the last quarter. First Trust Advisors LP grew its position in Newmont by 9.9% during the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock valued at $3,575,000 after buying an additional 8,678 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont in the first quarter valued at about $423,000. Spire Wealth Management lifted its stake in shares of Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after buying an additional 1,309 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Newmont during the first quarter worth about $202,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

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

Newmont Trading Up 0.6%

NEM opened at $71.16 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm's 50 day moving average is $62.72 and its 200-day moving average is $54.33. The firm has a market capitalization of $78.17 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.84 and a beta of 0.30. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $71.75.

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 business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business's revenue was up 20.8% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Newmont's payout ratio is 17.95%.

Analyst Ratings Changes

A number of research analysts recently weighed in on NEM shares. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. CIBC set a $74.00 price objective on shares of Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Scotiabank upped their price objective on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.58.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.