Tower Research Capital LLC TRC Has $2.84 Million Holdings in Newmont Co. (NYSE:NEM)

Tower Research Capital LLC TRC grew its holdings in Newmont Co. (NYSE:NEM) by 21.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 76,218 shares of the basic materials company’s stock after acquiring 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Newmont in the fourth quarter worth about $626,074,000. Capital Research Global Investors boosted its position in Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock valued at $210,105,000 after buying an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Newmont during the fourth quarter worth $76,281,000. Invesco Ltd. increased its position in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. Finally, Allianz SE acquired a new position in Newmont during the 4th quarter valued at about $65,385,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM stock opened at $55.25 on Tuesday. The firm has a market cap of $62.28 billion, a PE ratio of 18.86, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The company’s fifty day simple moving average is $47.31 and its 200-day simple moving average is $45.03. 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 (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. Royal Bank of Canada increased their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday, April 4th. TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.02.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock worth $825,678 in the last ninety days. Insiders own 0.05% of the company’s stock.

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.