Talaria Asset Management Pty Ltd Takes $35.99 Million Position in Newmont Co. (NYSE:NEM)

Talaria Asset Management Pty Ltd purchased a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 967,000 shares of the basic materials company's stock, valued at approximately $35,992,000. Newmont makes up approximately 9.3% of Talaria Asset Management Pty Ltd's holdings, making the stock its 6th biggest holding. Talaria Asset Management Pty Ltd owned about 0.08% of Newmont at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NEM. Norges Bank purchased a new position in shares of Newmont in the fourth quarter valued at $626,074,000. Voloridge Investment Management LLC bought a new position in Newmont in the 4th quarter worth about $92,693,000. Capital Research Global Investors grew its holdings in Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after buying an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Newmont during the fourth quarter valued at about $76,281,000. Finally, Invesco Ltd. lifted its holdings in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE NEM traded down $0.31 during trading hours on Thursday, reaching $52.54. 9,172,192 shares of the stock traded hands, compared to its average volume of 10,127,632. The company's 50-day simple moving average is $51.29 and its two-hundred day simple moving average is $45.38. The company has a market capitalization of $58.47 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period last year, the firm posted $0.55 earnings per share. Equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEM. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Raymond James restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Finally, Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.52.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $328,840 over the last three months. Insiders own 0.05% of the company's stock.

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.