Axxcess Wealth Management LLC Has $379,000 Stock Position in Newmont Corporation (NYSE:NEM)

Axxcess Wealth Management LLC reduced its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,849 shares of the basic materials company's stock after selling 13,698 shares during the period. Axxcess Wealth Management LLC's holdings in Newmont were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NEM. Geode Capital Management LLC grew its stake in shares of Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after buying an additional 1,213,397 shares during the last quarter. Norges Bank bought a new stake in shares of Newmont during the fourth quarter worth $626,074,000. Bank of New York Mellon Corp grew its stake in shares of Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after buying an additional 1,306,783 shares during the last quarter. Northern Trust Corp grew its stake in shares of Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after buying an additional 1,309,177 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. Argus set a $63.00 target price on shares of Newmont in a research note on Friday, April 25th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Stifel Nicolaus began coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Finally, Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.45.

Newmont Trading Up 1.2%

NEM stock traded up $0.71 during midday trading on Monday, hitting $60.84. The stock had a trading volume of 2,691,692 shares, compared to its average volume of 11,894,809. The firm has a market cap of $67.72 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $61.17. The business has a fifty day moving average price of $55.34 and a two-hundred day moving average price of $49.06.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.64%. Newmont's payout ratio is 22.42%.

Newmont 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.