Forum Financial Management LP Cuts Stake in Newmont Corporation (NYSE:NEM)

Forum Financial Management LP lowered its stake in Newmont Corporation (NYSE:NEM - Free Report) by 54.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,260 shares of the basic materials company's stock after selling 30,681 shares during the quarter. Forum Financial Management LP's holdings in Newmont were worth $1,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Ipswich Investment Management Co. Inc. raised its holdings in Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after buying an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. HighPoint Advisor Group LLC boosted its stake in Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC increased its position in shares of Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its holdings in Newmont by 1.8% in the 1st quarter. Prudent Man Advisors LLC now owns 15,517 shares of the basic materials company's stock worth $749,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NEM shares. Raymond James Financial restated an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. CIBC set a $74.00 target price on Newmont and gave the stock a "neutral" rating in a research note on Tuesday. National Bankshares restated a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. Finally, Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.49.

Newmont Trading Down 0.8%

Shares of NYSE:NEM opened at $58.00 on Friday. The company has a market cap of $64.55 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.66 and a beta of 0.33. The stock's 50-day moving average is $55.74 and its 200-day moving average is $49.49. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $61.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.72%. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. 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. 0.05% of the stock is owned by corporate insiders.

About Newmont

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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