EverSource Wealth Advisors LLC Sells 1,943 Shares of Newmont Co. (NYSE:NEM)

EverSource Wealth Advisors LLC decreased its stake in Newmont Co. (NYSE:NEM) by 55.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,541 shares of the basic materials company’s stock after selling 1,943 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Newmont were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NEM. Atria Investments Inc lifted its stake in Newmont by 33.8% in the 3rd quarter. Atria Investments Inc now owns 8,352 shares of the basic materials company’s stock valued at $446,000 after purchasing an additional 2,108 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Newmont by 58.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,492 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 3,887 shares during the last quarter. Natixis Advisors LLC lifted its stake in Newmont by 35.7% in the 3rd quarter. Natixis Advisors LLC now owns 163,940 shares of the basic materials company’s stock valued at $8,763,000 after purchasing an additional 43,153 shares during the last quarter. Claro Advisors LLC bought a new position in Newmont in the 3rd quarter valued at approximately $211,000. Finally, Thrivent Financial for Lutherans lifted its stake in Newmont by 10.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company’s stock valued at $4,775,000 after purchasing an additional 8,449 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 0.4 %

NYSE:NEM opened at $48.00 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $54.09 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.41 and a beta of 0.54. The firm has a fifty day simple moving average of $43.76 and a two-hundred day simple moving average of $45.66. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

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.