Fortem Financial Group LLC Raises Position in Newmont Corporation (NYSE:NEM)

Fortem Financial Group LLC boosted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 18.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,018 shares of the basic materials company's stock after buying an additional 5,051 shares during the quarter. Fortem Financial Group LLC's holdings in Newmont were worth $1,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Newmont in the 1st quarter worth approximately $26,000. Private Trust Co. NA lifted its stake in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new position in Newmont in the 1st quarter worth approximately $31,000. Finally, Alpine Bank Wealth Management purchased a new position in Newmont in the 1st quarter worth approximately $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $60.12 on Friday. The stock's 50-day moving average is $55.34 and its two-hundred day moving average is $48.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31. The company has a market cap of $66.91 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period in the prior year, the firm posted $0.55 EPS. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.66%. Newmont's dividend payout ratio is currently 22.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NEM shares. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. The Goldman Sachs Group restated a "neutral" rating and set a $60.90 price target on shares of Newmont in a report on Tuesday. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.45.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,231 shares of company stock valued at $679,813. Insiders own 0.05% 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.

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