Fortem Financial Group LLC Has $1.04 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Fortem Financial Group LLC raised its holdings in Newmont Co. (NYSE:NEM) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,967 shares of the basic materials company’s stock after buying an additional 1,891 shares during the quarter. Fortem Financial Group LLC’s holdings in Newmont were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter worth $27,000. Prospera Private Wealth LLC bought a new position in shares of Newmont during the 3rd quarter worth about $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont during the third quarter valued at about $32,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Newmont in the second quarter valued at about $27,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Jefferies Financial Group upped their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada decreased their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. One 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 stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Newmont Trading Down 0.9 %

Shares of NEM stock traded down $0.33 on Monday, reaching $37.78. 4,382,824 shares of the stock were exchanged, compared to its average volume of 6,238,508. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The stock has a market cap of $43.01 billion, a PE ratio of -24.86, a P/E/G ratio of 0.35 and a beta of 0.50. The stock has a 50 day moving average price of $41.55 and a 200 day moving average price of $47.06.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business 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 firm earned $0.36 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities research analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. Newmont’s dividend payout ratio is -65.79%.

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.