Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Buys New Position in Newmont Co. (NYSE:NEM)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 167,909 shares of the basic materials company's stock, valued at approximately $6,250,000. Newmont comprises about 18.5% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 2nd biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HHM Wealth Advisors LLC boosted its holdings in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $37,000. Promus Capital LLC purchased a new stake in Newmont in the fourth quarter worth $38,000. Kestra Investment Management LLC purchased a new stake in Newmont during the fourth quarter valued at about $43,000. Finally, Assetmark Inc. grew its stake in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after buying an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $328,840 over the last three months. Company insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Raymond James reiterated an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their price target for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada increased their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.52.

Newmont Price Performance

Shares of NYSE NEM traded down $0.92 during trading hours on Tuesday, reaching $52.73. 10,617,915 shares of the stock traded hands, compared to its average volume of 10,124,422. The company's 50-day simple moving average is $51.07 and its two-hundred day simple moving average is $45.27. The company has a market capitalization of $58.69 billion, a P/E ratio of 18.00, 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 issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations 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 business earned $0.55 earnings per share. Equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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

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.