Evermay Wealth Management LLC Increases Stake in Newmont Corporation $NEM

Evermay Wealth Management LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 408.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 498 shares of the basic materials company’s stock after buying an additional 400 shares during the period. Evermay Wealth Management LLC’s holdings in Newmont were worth $29,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concord Wealth Partners grew its holdings in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Cloud Capital Management LLC bought a new position in Newmont during the 1st quarter worth about $26,000. Colonial Trust Advisors lifted its stake in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 444 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Newmont by 92.3% during the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company’s stock, 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 sold a total of 16,249 shares of company stock worth $1,132,065 over the last three months. 0.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NEM. CIBC set a $112.00 price objective on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Raymond James Financial set a $96.00 price objective on Newmont in a research note on Friday, October 10th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. TD Securities upped their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $87.59.

Newmont Trading Up 4.6%

Newmont stock opened at $94.92 on Tuesday. The stock has a 50-day moving average of $79.76 and a two-hundred day moving average of $64.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The stock has a market cap of $104.27 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.63 and a beta of 0.34.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s revenue was up 20.8% compared to the same quarter last year. On average, research analysts anticipate 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

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.