Newmont Co. (NYSE:NEM) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lowered its position in Newmont Co. (NYSE:NEM) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,941 shares of the basic materials company’s stock after selling 851 shares during the period. Forum Financial Management LP’s holdings in Newmont were worth $2,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of NEM. McIlrath & Eck LLC boosted its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Newmont by 183.2% during the 3rd quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock worth $1,237,000 after acquiring an additional 14,967 shares during the period. Sanctuary Advisors LLC raised its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Newmont in the third quarter valued at $422,000. Finally, Cim Investment Management Inc. purchased a new stake in shares of Newmont during the 3rd quarter worth about $1,033,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday, April 4th. TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets initiated coverage on Newmont in a research report on Wednesday. They issued an “outperform” rating and a $63.00 target price for the company. Scotiabank reaffirmed a “sector perform” rating on shares of Newmont in a research report on Monday. Finally, UBS Group raised Newmont from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.02.

Newmont Trading Down 1.6 %

Shares of Newmont stock opened at $55.08 on Friday. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. 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 business has a fifty day simple moving average of $47.14 and a 200-day simple moving average of $45.14. The firm has a market cap of $62.08 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. On average, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Newmont’s payout ratio is currently 34.13%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by company 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.