Tower Research Capital LLC TRC Raises Holdings in Newmont Co. (NYSE:NEM)

Tower Research Capital LLC TRC grew its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,218 shares of the basic materials company's stock after purchasing an additional 13,590 shares during the period. Tower Research Capital LLC TRC's holdings in Newmont were worth $2,837,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC increased its position in Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after acquiring an additional 219 shares during the last quarter. Confluence Investment Management LLC grew its holdings in Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock valued at $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. raised its position in Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after purchasing an additional 292 shares during the period. Intact Investment Management Inc. lifted its stake in Newmont by 21.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after purchasing an additional 300 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in shares of Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock valued at $338,000 after buying an additional 303 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM traded down $1.77 during trading hours on Friday, reaching $53.93. 12,370,513 shares of the company traded hands, compared to its average volume of 9,879,657. The stock has a market capitalization of $60.79 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $47.89 and a 200-day moving average price of $45.18. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.72.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 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 $90,785.67. Following the completion of the sale, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company's stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock worth $825,678 over the last quarter. 0.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEM has been the topic of several research analyst reports. Argus set a $63.00 price objective on Newmont in a research report on Friday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.40.

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.