Tounjian Advisory Partners LLC Invests $1.07 Million in Newmont Co. (NYSE:NEM)

Tounjian Advisory Partners LLC acquired a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,218 shares of the basic materials company's stock, valued at approximately $1,073,000.

Several other institutional investors have also modified their holdings of the stock. SOA Wealth Advisors LLC. grew its holdings in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Nexus Investment Management ULC acquired a new stake in shares of Newmont in the 1st quarter valued at about $31,000. Redwood Park Advisors LLC purchased a new position in Newmont during the 4th quarter worth approximately $37,000. Promus Capital LLC acquired a new position in Newmont during the fourth quarter worth approximately $38,000. Finally, Kestra Investment Management LLC acquired a new position in Newmont during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NEM traded up $0.72 on Wednesday, hitting $53.28. 11,397,770 shares of the company were exchanged, compared to its average volume of 10,263,814. 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 business's fifty day moving average is $52.33 and its 200 day moving average is $46.13. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm has a market capitalization of $59.30 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given 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 1.88%. Newmont's dividend payout ratio is presently 22.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NEM shares. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Raymond James reiterated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. Finally, Cfra Research raised Newmont to a "strong-buy" rating in a report 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. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock worth $381,539 over the last ninety days. 0.05% of the stock is currently owned by insiders.

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.