Newmont Corporation $NEM Shares Newly Acquired by Foundation Resource Management Inc.

Foundation Resource Management Inc. purchased a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 491,849 shares of the basic materials company’s stock, valued at approximately $56,730,000. Newmont makes up about 4.7% of Foundation Resource Management Inc.’s holdings, making the stock its 4th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEM. Blue Trust Inc. grew its stake in Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares in the last quarter. Accel Wealth Management lifted its stake in Newmont by 0.8% in the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after purchasing an additional 115 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in Newmont by 41.8% in the 1st quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 117 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of Newmont by 0.6% during the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after purchasing an additional 121 shares during the last quarter. Finally, Zhang Financial LLC boosted its holdings in shares of Newmont by 0.8% during the 1st quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock worth $1,707,000 after purchasing an additional 124 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 35,973 shares of company stock worth $3,927,169. Company insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.5%

NYSE:NEM traded down $0.57 on Monday, hitting $118.03. The stock had a trading volume of 5,040,061 shares, compared to its average volume of 8,555,714. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock has a market cap of $124.37 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.20 and a beta of 0.51. The company has a fifty day moving average price of $122.06 and a two-hundred day moving average price of $110.89. Newmont Corporation has a 1-year low of $76.05 and a 1-year high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter in the prior year, the company posted $1.43 EPS. Equities research analysts expect that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio is currently 13.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. BMO Capital Markets lifted their price objective on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Scotiabank boosted their price objective on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, TD raised their target price on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $133.45.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.