Strong Tower Advisory Services Has $2.22 Million Holdings in Newmont Co. (NYSE:NEM)

Strong Tower Advisory Services grew its position in Newmont Co. (NYSE:NEM - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,580 shares of the basic materials company's stock after purchasing an additional 4,756 shares during the period. Strong Tower Advisory Services' holdings in Newmont were worth $2,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. HighPoint Advisor Group LLC increased its stake in shares of 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 period. Rothschild Investment LLC increased its stake in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after acquiring an additional 219 shares during the period. Keel Point LLC increased its stake in shares of Newmont by 2.0% during the fourth quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock valued at $550,000 after acquiring an additional 287 shares during the period. Howard Capital Management Inc. increased its stake in shares of Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after acquiring an additional 292 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in Newmont by 21.4% during the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after buying an additional 300 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEM. Raymond James restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a report on Friday, April 25th. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and lifted their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, Royal Bank of Canada raised their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.68.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 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 transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Performance

NYSE NEM traded down $0.41 during midday trading on Thursday, hitting $54.87. The company had a trading volume of 6,326,342 shares, compared to its average volume of 11,906,653. 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 stock has a market cap of $61.07 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 0.41 and a beta of 0.31. The firm has a fifty day simple moving average of $51.96 and a two-hundred day simple moving average of $45.83. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The company 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%. During the same period last year, the business posted $0.55 EPS. Equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont's dividend payout ratio 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.