Newmont Co. (NYSE:NEM) Shares Bought by Everhart Financial Group Inc.

Everhart Financial Group Inc. raised its stake in Newmont Co. (NYSE:NEM) by 39.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,814 shares of the basic materials company’s stock after acquiring an additional 2,473 shares during the period. Everhart Financial Group Inc.’s holdings in Newmont were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEM. Brighton Jones LLC boosted its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Newmont in the fourth quarter valued at approximately $7,508,000. Savant Capital LLC boosted its stake in Newmont by 29.6% in the fourth quarter. Savant Capital LLC now owns 14,411 shares of the basic materials company’s stock valued at $536,000 after acquiring an additional 3,292 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Newmont by 13.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 582,060 shares of the basic materials company’s stock valued at $22,178,000 after buying an additional 69,271 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Newmont by 6.5% during the fourth quarter. Avestar Capital LLC now owns 5,757 shares of the basic materials company’s stock valued at $214,000 after buying an additional 352 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NYSE NEM opened at $57.87 on Friday. The stock has a market capitalization of $64.41 billion, a P/E ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The business’s fifty day moving average is $53.00 and its two-hundred day moving average is $46.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted 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 return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s payout ratio is 22.42%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the transaction, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a report on Wednesday, April 23rd. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and lifted their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. Raymond James reaffirmed an “outperform” rating and set a $66.00 price target on shares of Newmont in a report on Friday, April 25th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.68.

Newmont 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.