Foundation Resource Management Inc. Has $32.98 Million Stock Position in Newmont Co. (NYSE:NEM)

Foundation Resource Management Inc. trimmed its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 683,046 shares of the basic materials company's stock after selling 18,996 shares during the quarter. Newmont makes up 5.2% of Foundation Resource Management Inc.'s portfolio, making the stock its 6th biggest holding. Foundation Resource Management Inc. owned 0.06% of Newmont worth $32,977,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. increased its stake in Newmont by 64.0% in the first 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 last quarter. Nexus Investment Management ULC purchased a new stake in shares of Newmont in the first quarter worth about $31,000. Redwood Park Advisors LLC purchased a new position in Newmont in the fourth quarter valued at about $37,000. Promus Capital LLC purchased a new position in Newmont in the fourth quarter valued at about $38,000. Finally, Kestra Investment Management LLC acquired a new stake in Newmont during the fourth quarter valued at approximately $43,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of several research reports. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada upped their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business'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 $112,344.93. Following the completion of the transaction, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,154 shares of company stock valued at $381,539. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NEM traded up $0.72 during midday trading on Wednesday, reaching $53.28. The stock had a trading volume of 11,397,770 shares, compared to its average volume of 10,263,814. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm's 50 day moving average price is $52.51 and its 200-day moving average price is $46.18. The company has a market capitalization of $59.30 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the previous year, the business earned $0.55 EPS. On average, analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

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.