Newmont Corporation $NEM Shares Newly Bought by Accel Wealth Management

Accel Wealth Management purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, Holdings Channel.com reports. The fund purchased 14,748 shares of the basic materials company’s stock, valued at approximately $1,701,000.

Several other hedge funds have also made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont in the 1st quarter worth about $25,000. Cedar Mountain Advisors LLC acquired a new position in Newmont during the 1st quarter valued at about $25,000. Clearstead Trust LLC bought a new position in Newmont in the 2nd quarter worth about $25,000. Kilter Group LLC bought a new position in Newmont in the 2nd quarter worth about $26,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the transaction, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at $14,634,945.51. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock worth $3,927,169 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NEM shares. Scotiabank raised their target price on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Bank of America lowered their price target on Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Macquarie Infrastructure lowered their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.26.

Newmont Trading Down 1.3%

NYSE:NEM traded down $1.54 on Tuesday, hitting $115.61. 4,380,165 shares of the stock were exchanged, compared to its average volume of 8,595,350. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The stock has a market capitalization of $121.82 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.65 and a beta of 0.51. The company’s 50-day moving average price is $121.26 and its 200 day moving average price is $110.50.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the firm earned $1.43 EPS. On average, equities research analysts forecast that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s payout ratio is 13.13%.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.