Accel Wealth Management Makes New Investment in Newmont Co. (NYSE:NEM)

Accel Wealth Management acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 6,197 shares of the basic materials company’s stock, valued at approximately $222,000.

A number of other large investors have also recently made changes to their positions in NEM. Life Planning Partners Inc purchased a new position in shares of Newmont during the 4th quarter valued at about $26,000. Manchester Capital Management LLC lifted its position in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Newmont during the 4th quarter valued at about $34,000. Rise Advisors LLC lifted its position in shares of Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after buying an additional 973 shares in the last quarter. Finally, Advantage Trust Co purchased a new position in Newmont in the 4th quarter worth approximately $41,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $43.45 on Friday. The company has a market cap of $50.10 billion, a P/E ratio of -16.27, a P/E/G ratio of 0.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The business’s 50 day moving average price is $41.93 and its 200-day moving average price is $38.18. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $45.92.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Sell-side analysts predict that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank boosted their price target on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. BMO Capital Markets lowered their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. TD Securities boosted their price target on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.13.

Newmont Profile

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.