14,748 Shares in Newmont Corporation $NEM Purchased by Accel Wealth Management

Key Points

• Accel Wealth Management acquired 14,748 Newmont shares during the third quarter, valued at approximately $1.7 million. Institutional investors collectively own 68.85% of the company.
• Analysts maintain a generally positive outlook, with Newmont receiving a consensus “Moderate Buy” rating and an average price target of $134.26, despite several recent target reductions.
• Newmont shares fell 1.3% to $115.61, while the company reported quarterly EPS of $2.10—slightly above estimates—and paid a quarterly dividend of $0.26 per share.

Accel Wealth Management acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,748 shares of the basic materials company's stock, valued at approximately $1,701,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Newmont during the second quarter valued at approximately $11,289,753,000. State Street Corp boosted its position in Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock worth $4,893,852,000 after purchasing an additional 1,565,716 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 615,461 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Newmont by 2.0% in the first 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 purchasing an additional 184,586 shares during the period. Finally, Amundi lifted its holdings in Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company's stock valued at $950,519,000 after purchasing an additional 372,415 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NEM. Macquarie Infrastructure lowered their price target on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a report on Monday, June 15th. BMO Capital Markets boosted their target price on Newmont from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, September 29th. Canaccord Genuity Group decreased their price target on Newmont from $160.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. BNP Paribas Exane cut their target price on Newmont from $111.00 to $102.00 and set a "neutral" rating for the company in a research note on Tuesday, July 21st. Finally, Barclays reduced their target price on Newmont from $125.00 to $124.00 and set an "overweight" rating for the company in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.26.

Newmont Trading Down 1.3%

NEM stock traded down $1.54 on Tuesday, hitting $115.61. 4,380,165 shares of the company were exchanged, compared to its average volume of 8,595,350. 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 stock has a market capitalization of $121.82 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.65 and a beta of 0.51. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The business's fifty day moving average is $121.26 and its two-hundred day moving average is $110.50.

Newmont (NYSE:NEM - Get Free Report) last released 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the firm posted $1.43 EPS. As a group, research analysts forecast that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a $0.26 dividend. 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 (DPR) is 13.13%.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,973 shares of company stock worth $3,927,169 in the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont 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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