Evergreen Capital Management LLC Has $4.06 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Evergreen Capital Management LLC raised its stake in Newmont Corporation by 5.0% during the 1st quarter, now holding $4.06 million worth of shares.
• Newmont reported a quarterly earnings per share (EPS) of $1.43, significantly beating analyst estimates of $0.95, with a revenue increase of 20.8% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, equating to an annualized yield of 1.3%, set to be paid on September 29th.

Evergreen Capital Management LLC lifted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 84,069 shares of the basic materials company's stock after purchasing an additional 4,031 shares during the quarter. Evergreen Capital Management LLC's holdings in Newmont were worth $4,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SOA Wealth Advisors LLC. boosted its stake in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Newmont during the first quarter valued at approximately $26,000. Colonial Trust Advisors boosted its position in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC acquired a new stake in shares of Newmont in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NEM traded down $0.43 during midday trading on Wednesday, reaching $75.43. 8,869,567 shares of the stock were exchanged, compared to its average volume of 11,700,078. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $76.52. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company has a market cap of $82.86 billion, a P/E ratio of 13.54, a PEG ratio of 0.88 and a beta of 0.34. The stock's 50 day simple moving average is $64.56 and its 200 day simple moving average is $55.41.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping 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 the consensus estimate of $4.70 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The company's revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is presently 17.95%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NEM. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. Macquarie cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $65.15.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction 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 $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 17,169 shares of company stock valued at $1,098,636 in the last three months. Corporate insiders own 0.05% of the company's stock.

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.