Accordant Advisory Group Inc Has $39,000 Position in Newmont Co. (NYSE:NEM)

Accordant Advisory Group Inc lowered its position in shares of Newmont Co. (NYSE:NEM) by 98.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Other large investors have also made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in Newmont during the 4th quarter valued at about $1,624,000. Bfsg LLC raised its stake in shares of Newmont by 47.7% during the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company’s stock worth $6,646,000 after buying an additional 57,690 shares during the last quarter. Principal Securities Inc. boosted its stake in Newmont by 196.9% in the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company’s stock valued at $214,000 after acquiring an additional 3,813 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Newmont by 53.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 13,918 shares of the basic materials company’s stock worth $518,000 after acquiring an additional 4,852 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock valued at $3,575,000 after purchasing an additional 8,678 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president now owns 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. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last quarter. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $53.28 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business has a 50-day moving average of $52.51 and a 200-day moving average of $46.18. The stock has a market capitalization of $59.30 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Finally, Cfra Research raised Newmont to a “strong-buy” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.