14,576 Shares in Newmont Corporation $NEM Purchased by Everhart Financial Group Inc.

Key Points

• Everhart Financial Group purchased 14,576 Newmont shares worth approximately $1.68 million, while institutional investors collectively owned 68.85% of the company.
• Analysts maintain a generally positive outlook, with Newmont receiving a “Moderate Buy” consensus rating and an average price target of $134.26.
• Newmont reported quarterly EPS of $2.10, exceeding estimates, and paid a quarterly dividend of $0.26 per share, equivalent to a 0.9% annual yield.

Everhart Financial Group Inc. bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,576 shares of the basic materials company's stock, valued at approximately $1,681,000.

Several other institutional investors and hedge funds also recently modified their holdings of NEM. Northwestern Mutual Wealth Management Co. bought a new stake in Newmont during the second quarter worth approximately $36,180,000. Asset One Wealth Management LLC acquired a new stake in shares of Newmont in the second quarter worth $2,866,000. Private Advisory Group LLC bought a new stake in shares of Newmont during the 2nd quarter worth $10,430,000. Commerce Bank acquired a new position in Newmont in the 2nd quarter valued at $3,418,000. Finally, Qtron Investments LLC grew its stake in Newmont by 63.5% in the 4th quarter. Qtron Investments LLC now owns 27,945 shares of the basic materials company's stock valued at $2,790,000 after buying an additional 10,853 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEM shares. Macquarie Infrastructure decreased their price target on shares of Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a report on Monday, June 15th. Scotiabank increased their target price on Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. BNP Paribas Exane cut 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. Finally, Argus set a $110.00 price objective on Newmont in a research report on Monday, August 3rd. Two equities research 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. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $134.26.

Newmont Price Performance

Shares of NEM traded up $1.77 during trading hours on Thursday, hitting $115.31. The stock had a trading volume of 2,072,446 shares, compared to its average volume of 8,645,868. The stock has a market capitalization of $121.50 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.62 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The company's fifty day moving average is $119.95 and its two-hundred day moving average is $110.09. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the business posted $1.43 earnings per share. On average, analysts anticipate that Newmont Corporation will post 9.1 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont's dividend payout ratio is presently 13.13%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares of the company's stock, valued at approximately $14,634,945.51. The trade was a 2.96% 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. Insiders have sold 35,973 shares of company stock valued at $3,927,169 over the last three months. 0.06% of the stock is owned by insiders.

Newmont Company Profile

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.

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