Secure Asset Management LLC Has $2.25 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Secure Asset Management LLC increased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 30.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,521 shares of the basic materials company's stock after acquiring an additional 10,843 shares during the period. Secure Asset Management LLC's holdings in Newmont were worth $2,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alpha Wealth Funds LLC acquired a new stake in shares of Newmont during the first quarter worth $241,000. Accel Wealth Management raised its holdings in shares of Newmont by 113.7% during the first quarter. Accel Wealth Management now owns 13,162 shares of the basic materials company's stock worth $635,000 after acquiring an additional 7,004 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Newmont by 7.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,264 shares of the basic materials company's stock worth $785,000 after acquiring an additional 1,089 shares during the period. RFG Advisory LLC acquired a new stake in shares of Newmont during the first quarter worth $1,019,000. Finally, Merit Financial Group LLC raised its holdings in shares of Newmont by 107.8% during the first quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company's stock worth $821,000 after acquiring an additional 8,817 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEM shares. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Royal Bank of Canada lifted their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday. Finally, Raymond James reiterated an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.68.

Newmont Stock Performance

Shares of NEM stock traded down $2.15 during midday trading on Friday, hitting $52.36. 13,344,110 shares of the company were exchanged, compared to its average volume of 10,238,189. The firm has a market capitalization of $58.28 billion, a P/E ratio of 17.87, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm's 50 day moving average price is $52.16 and its two-hundred day moving average price is $45.97. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its 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 business had revenue of $5.01 billion during 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 quarter in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now owns 45,180 shares in the company, valued at $2,443,786.20. The trade was a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock worth $381,539 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

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.