Everpar Advisors LLC Makes New $204,000 Investment in Newmont Co. (NYSE:NEM)

Everpar Advisors LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,825 shares of the basic materials company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co acquired a new stake in shares of Newmont during the 3rd quarter valued at approximately $268,000. GAMMA Investing LLC raised its holdings in Newmont by 21.2% during the third quarter. GAMMA Investing LLC now owns 18,630 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 3,264 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Newmont by 4.2% during the third quarter. Handelsbanken Fonder AB now owns 421,747 shares of the basic materials company’s stock worth $22,542,000 after purchasing an additional 17,070 shares in the last quarter. Quent Capital LLC grew its holdings in Newmont by 35.4% in the third quarter. Quent Capital LLC now owns 2,320 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 606 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Newmont by 521.8% in the third quarter. Harbor Investment Advisory LLC now owns 19,376 shares of the basic materials company’s stock valued at $1,036,000 after buying an additional 16,260 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NEM shares. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, UBS Group upped their price objective on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

Newmont Price Performance

Shares of Newmont stock opened at $52.74 on Wednesday. The business’s fifty day moving average price is $51.62 and its 200 day moving average price is $45.16. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $56.30. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $60.82 billion, a P/E ratio of -19.75, a PEG ratio of 0.47 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. As a group, research analysts anticipate that Newmont Co. will post 2.88 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by corporate insiders.

About Newmont

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.