Fortem Financial Group LLC Takes Position in Newmont Co. (NYSE:NEM)

Fortem Financial Group LLC bought a new stake in shares of Newmont Co. (NYSE:NEM) in the third quarter, Holdings Channel reports. The fund bought 26,076 shares of the basic materials company’s stock, valued at approximately $1,394,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Heathbridge Capital Management Ltd. grew its position in shares of Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 200 shares during the period. E. Ohman J or Asset Management AB lifted its stake in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after buying an additional 200 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after buying an additional 221 shares in the last quarter. Carmel Capital Partners LLC lifted its stake in shares of Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC lifted its stake in shares of Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after buying an additional 229 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Down 0.6 %

Shares of Newmont stock opened at $41.50 on Wednesday. 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 stock has a market capitalization of $47.25 billion, a PE ratio of -27.30, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a 50-day simple moving average of $47.48 and a two-hundred day simple moving average of $47.41.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. On average, analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Newmont’s dividend payout ratio is presently -65.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Jefferies Financial Group increased their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.06% of the company’s stock.

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.