Fortem Financial Group LLC Makes New $1.39 Million Investment in Newmont Co. (NYSE:NEM)

Fortem Financial Group LLC bought a new position in shares of Newmont Co. (NYSE:NEM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,076 shares of the basic materials company’s stock, valued at approximately $1,394,000.

A number of other institutional investors also recently bought and sold shares of the company. Heathbridge Capital Management Ltd. boosted its position in Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB increased its stake in Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares during the last quarter. Fulton Bank N.A. increased its stake in Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares during the last quarter. Carmel Capital Partners LLC increased its stake in Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC increased its stake in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 229 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Jefferies Financial Group increased their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $54.31.

Newmont Price Performance

Shares of NYSE NEM opened at $41.50 on Wednesday. The firm’s 50-day moving average price is $47.48 and its 200-day moving average price is $47.41. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market capitalization of $47.25 billion, a P/E ratio of -27.30, a P/E/G ratio of 0.35 and a beta of 0.49. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the company posted $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Newmont’s dividend payout ratio is presently -65.79%.

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.