Accel Wealth Management Acquires 7,004 Shares of Newmont Co. (NYSE:NEM)

Accel Wealth Management increased its stake in Newmont Co. (NYSE:NEM - Free Report) by 113.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,162 shares of the basic materials company's stock after purchasing an additional 7,004 shares during the period. Accel Wealth Management's holdings in Newmont were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Nexus Investment Management ULC bought a new position in shares of Newmont in the first quarter valued at approximately $31,000. HHM Wealth Advisors LLC lifted its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Redwood Park Advisors LLC acquired a new position in shares of Newmont in the 4th quarter valued at $37,000. Promus Capital LLC purchased a new position in Newmont in the 4th quarter worth about $38,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Newmont in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares in the company, valued at $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. In the last ninety days, insiders have sold 7,154 shares of company stock valued at $381,539. 0.05% of the stock is owned by corporate insiders.

Newmont Trading Down 1.5%

NEM traded down $0.82 during mid-day trading on Thursday, hitting $54.46. The stock had a trading volume of 13,469,457 shares, compared to its average volume of 10,203,637. The stock's fifty day simple moving average is $51.96 and its 200-day simple moving average is $45.83. The firm has a market capitalization of $60.61 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. Newmont's payout ratio is 22.42%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Raymond James reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, National Bankshares reissued a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $57.68.

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.