Foundry Partners LLC Trims Stock Position in Newmont Corporation (NYSE:NEM)

Foundry Partners LLC lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,867 shares of the basic materials company's stock after selling 14,296 shares during the period. Foundry Partners LLC's holdings in Newmont were worth $11,919,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ipswich Investment Management Co. Inc. increased its holdings in shares of 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 in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Newmont by 64.0% during 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. HighPoint Advisor Group LLC grew its stake in shares of Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 219 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of Newmont by 8.5% during the first 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 grew its stake in shares of Newmont by 1.8% during the first quarter. Prudent Man Advisors LLC now owns 15,517 shares of the basic materials company's stock valued at $749,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Shares of Newmont stock traded up $0.23 on Friday, reaching $58.22. 13,517,237 shares of the stock were exchanged, compared to its average volume of 10,841,254. The firm's 50 day moving average is $55.83 and its 200-day moving average is $49.63. The firm has a market cap of $64.80 billion, a PE ratio of 13.05, a P/E/G ratio of 0.65 and a beta of 0.33. Newmont Corporation has a one year low of $36.86 and a one year 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 quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $4.82 billion. During the same period in the prior year, the company posted $0.55 EPS. As a group, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company's stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares of the company's stock, valued at approximately $4,378,402.50. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. Raymond James Financial reissued an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, UBS Group lifted their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average price target of $62.49.

Newmont Company 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.