Axxcess Wealth Management LLC Sells 197 Shares of Newmont Corporation $NEM

Axxcess Wealth Management LLC lessened its stake in shares of Newmont Corporation (NYSE:NEM) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,652 shares of the basic materials company’s stock after selling 197 shares during the period. Axxcess Wealth Management LLC’s holdings in Newmont were worth $446,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares during the period. Generate Investment Management Ltd boosted its stake in shares of Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after acquiring an additional 77,865 shares during the period. Bessemer Group Inc. boosted its stake in shares of Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after acquiring an additional 1,379 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Newmont in the first quarter worth about $423,000. Finally, Spire Wealth Management boosted its stake in shares of Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 1,309 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 7.6%

Shares of NEM stock opened at $90.76 on Friday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The stock’s 50 day simple moving average is $79.24 and its two-hundred day simple moving average is $63.97. The company has a market cap of $99.69 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio is 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock worth $1,132,065 over the last ninety days. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NEM shares. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective for the company. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Citigroup boosted their target price on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Raymond James Financial set a $96.00 target price on Newmont in a research report on Friday, October 10th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.59.

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.