Strong Tower Advisory Services Buys 5,724 Shares of Newmont Co. (NYSE:NEM)

Strong Tower Advisory Services grew its stake in Newmont Co. (NYSE:NEM) by 14.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 44,824 shares of the basic materials company’s stock after purchasing an additional 5,724 shares during the quarter. Strong Tower Advisory Services’ holdings in Newmont were worth $1,668,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hoese & Co LLP bought a new position in Newmont in the third quarter worth approximately $27,000. Avior Wealth Management LLC increased its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the third quarter valued at about $28,000. Highline Wealth Partners LLC bought a new position in Newmont during the 3rd quarter worth about $32,000. Finally, McIlrath & Eck LLC raised its holdings in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on NEM shares. Royal Bank of Canada cut their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.80.

Insider Buying and Selling at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.2 %

NEM opened at $41.72 on Monday. The firm’s fifty day simple moving average is $40.29 and its two-hundred day simple moving average is $46.86. 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 Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the firm posted $0.36 earnings per share. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, research analysts predict that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

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.