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

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

Several other hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in Newmont during the first quarter valued at $26,000. Colonial Trust Advisors raised its stake in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the last quarter. Concord Wealth Partners raised its stake in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the last quarter. Private Trust Co. NA raised its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after buying an additional 347 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Newmont during the first quarter valued at $32,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 over the last 90 days. Company insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $90.76 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The firm has a market capitalization of $99.69 billion, a P/E ratio of 16.29, a PEG ratio of 1.07 and a beta of 0.34. The business has a fifty day moving average of $79.24 and a 200 day moving average of $63.97.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s payout ratio is presently 17.95%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. CIBC set a $112.00 price objective on Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Stifel Canada upgraded Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. UBS Group lifted their price objective on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a research note on Thursday. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Raymond James Financial set a $96.00 price target on Newmont in a research note on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Newmont presently has an average 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.