Newmont Corporation $NEM Shares Sold by Forum Financial Management LP

Forum Financial Management LP trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 20.9% during the second quarter, Holdings Channel reports. The firm owned 19,982 shares of the basic materials company’s stock after selling 5,278 shares during the quarter. Forum Financial Management LP’s holdings in Newmont were worth $1,164,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Cloud Capital Management LLC acquired a new stake in shares of Newmont during the first quarter worth $26,000. Colonial Trust Advisors grew its position in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 429 shares during the last quarter. Concord Wealth Partners grew its position in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its position in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,249 shares of company stock worth $1,132,065. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $88.93 on Friday. The firm has a 50-day moving average price of $80.89 and a 200 day moving average price of $65.15. The firm has a market capitalization of $97.69 billion, a PE ratio of 15.97, a P/E/G ratio of 0.59 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $98.58.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Analyst Ratings Changes

Several research firms have recently commented on NEM. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the stock a “buy” rating in a research report on Sunday, October 12th. Raymond James Financial set a $96.00 price target on shares of Newmont in a research report on Friday, October 10th. National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.39.

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.