Accordant Advisory Group Inc Has $39,000 Position in Newmont Co. (NYSE:NEM)

Accordant Advisory Group Inc decreased its stake in Newmont Co. (NYSE:NEM - Free Report) by 98.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 800 shares of the basic materials company's stock after selling 38,708 shares during the period. Accordant Advisory Group Inc's holdings in Newmont were worth $39,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC boosted its holdings in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new position in Newmont in the fourth quarter valued at about $626,074,000. Northern Trust Corp boosted its holdings in Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the last quarter. Finally, Amundi boosted its holdings in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now owns 47,257 shares in the company, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $381,539 over the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

NYSE NEM traded up $2.63 on Thursday, reaching $55.94. 12,914,411 shares of the stock traded hands, compared to its average volume of 10,294,179. The firm's fifty day simple moving average is $52.51 and its 200 day simple moving average is $46.18. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $62.26 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter last year, the firm posted $0.55 earnings per share. As a group, research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. Raymond James restated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

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.