Accordant Advisory Group Inc Sells 38,708 Shares of Newmont Co. (NYSE:NEM)

Accordant Advisory Group Inc lowered its stake in shares of Newmont Co. (NYSE:NEM) by 98.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the basic materials company’s stock after selling 38,708 shares during the quarter. Accordant Advisory Group Inc’s holdings in Newmont were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. increased its holdings in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after buying an additional 201 shares during the period. Nexus Investment Management ULC acquired a new position in Newmont during the first quarter valued at approximately $31,000. Redwood Park Advisors LLC bought a new stake in Newmont during the fourth quarter worth $37,000. Promus Capital LLC bought a new stake in Newmont during the fourth quarter worth $38,000. Finally, Kestra Investment Management LLC bought a new position in shares of Newmont in the 4th quarter valued at $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on 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 now directly owns 77,526 shares of the company’s stock, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction 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 directly owns 47,257 shares of the company’s stock, 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. Over the last three months, insiders sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $53.28 on Thursday. The company has a market capitalization of $59.30 billion, a PE ratio of 18.18, a P/E/G ratio of 0.41 and a beta of 0.31. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The firm has a fifty day simple moving average of $52.51 and a 200 day simple moving average of $46.18.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period last year, the company posted $0.55 EPS. On average, sell-side analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Newmont’s payout ratio is currently 22.42%.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Scotiabank restated a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Royal Bank of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. National Bankshares reissued a “sector perform” rating on shares of Newmont in a report on Wednesday, April 23rd. Finally, Raymond James reiterated an “outperform” rating and issued a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. One investment 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 company. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target 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.