Everhart Financial Group Inc. Purchases 14,576 Shares of Newmont Corporation $NEM

Everhart Financial Group Inc. acquired a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel reports. The institutional investor acquired 14,576 shares of the basic materials company’s stock, valued at approximately $1,681,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp boosted its position in shares of Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after purchasing an additional 480,223 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Newmont by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after buying an additional 615,461 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Newmont by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock valued at $1,012,792,000 after buying an additional 184,586 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s 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 transaction, the chief financial officer directly owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,973 shares of company stock valued at $3,927,169 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. BNP Paribas Exane lowered their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. BMO Capital Markets increased their target price on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Barclays reduced their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, July 28th. The Goldman Sachs Group dropped their price objective on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.26.

Newmont Stock Up 1.6%

NEM stock traded up $1.77 during midday trading on Thursday, hitting $115.31. The company’s stock had a trading volume of 2,072,446 shares, compared to its average volume of 8,645,868. The company’s fifty day moving average price is $119.95 and its 200 day moving average price is $110.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The stock has a market capitalization of $121.50 billion, a P/E ratio of 14.61, a PEG ratio of 1.62 and a beta of 0.51.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the business posted $1.43 EPS. As a group, equities research analysts predict that Newmont Corporation will post 9.1 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s dividend payout ratio is 13.13%.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.