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

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NEM. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Raymond James reaffirmed an "outperform" rating and set a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.52.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares in the company, valued at $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35% 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 Price Performance

Shares of NYSE NEM traded down $0.17 during trading hours on Thursday, reaching $52.68. 4,695,569 shares of the stock traded hands, compared to its average volume of 10,103,727. 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 $58.64 billion, a P/E ratio of 17.97, 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, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $0.55 EPS. Equities research analysts forecast that Newmont Co. 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 Friday, June 20th. Shareholders 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 is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

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.