Fortis Capital Advisors LLC Acquires Shares of 13,514 Newmont Corporation $NEM

Fortis Capital Advisors LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,514 shares of the basic materials company’s stock, valued at approximately $787,000.

A number of other institutional investors have also recently bought and sold shares of the business. Ascent Group LLC grew its stake in Newmont by 74.8% in the 2nd quarter. Ascent Group LLC now owns 13,657 shares of the basic materials company’s stock valued at $796,000 after purchasing an additional 5,844 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Newmont by 4.3% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 39,075 shares of the basic materials company’s stock valued at $2,277,000 after purchasing an additional 1,597 shares during the period. Synergy Asset Management LLC bought a new position in Newmont in the 2nd quarter valued at $19,016,000. Hilltop National Bank bought a new position in Newmont in the 2nd quarter valued at $1,472,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Newmont by 3.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 189,848 shares of the basic materials company’s stock valued at $11,061,000 after buying an additional 6,918 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $86.86 on Friday. The business’s 50-day moving average price is $74.37 and its two-hundred day moving average price is $61.08. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $87.93. The stock has a market cap of $95.41 billion, a P/E ratio of 15.59, a PEG ratio of 0.96 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio is 17.95%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 in the last ninety days. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NEM shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Saturday, September 27th. BNP Paribas Exane upped their price target on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Stifel Nicolaus started coverage on Newmont in a research report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price target on the stock. Finally, Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

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.