Tyler Stone Wealth Management Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Tyler Stone Wealth Management grew its stake in shares of Newmont Co. (NYSE:NEM) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,291 shares of the basic materials company’s stock after purchasing an additional 3,095 shares during the quarter. Tyler Stone Wealth Management’s holdings in Newmont were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Baxter Bros Inc. lifted its position in Newmont by 3.3% in the fourth quarter. Baxter Bros Inc. now owns 15,987 shares of the basic materials company’s stock valued at $595,000 after acquiring an additional 510 shares during the last quarter. Bay Capital Advisors LLC acquired a new stake in shares of Newmont during the fourth quarter worth about $225,000. Minneapolis Portfolio Management Group LLC boosted its position in shares of Newmont by 0.5% in the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 676,076 shares of the basic materials company’s stock valued at $25,164,000 after purchasing an additional 3,317 shares during the period. Sound Shore Management Inc. CT boosted its position in shares of Newmont by 59.8% in the 4th quarter. Sound Shore Management Inc. CT now owns 266,940 shares of the basic materials company’s stock valued at $9,936,000 after purchasing an additional 99,910 shares during the period. Finally, Syntax Research Inc. grew its stake in Newmont by 110.3% during the 4th quarter. Syntax Research Inc. now owns 72,125 shares of the basic materials company’s stock worth $2,684,000 after buying an additional 37,833 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $47.36 on Thursday. The firm’s fifty day simple moving average is $44.52 and its 200-day simple moving average is $45.50. 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 $53.38 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $34.18 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.11%. Newmont’s dividend payout ratio is presently 34.13%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Securities decreased their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.