Axxcess Wealth Management LLC Has $1.99 Million Stock Position in Newmont Co. (NYSE:NEM)

Axxcess Wealth Management LLC raised its position in shares of Newmont Co. (NYSE:NEM) by 208.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,014 shares of the basic materials company’s stock after buying an additional 32,429 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Newmont were worth $1,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new stake in Newmont in the 3rd quarter worth about $26,000. Life Planning Partners Inc bought a new position in shares of Newmont during the 4th quarter valued at $26,000. OFI Invest Asset Management bought a new position in Newmont during the third quarter valued at about $30,000. CVA Family Office LLC acquired a new stake in Newmont in the 4th quarter worth approximately $34,000. Finally, Operose Advisors LLC boosted its holdings in shares of Newmont by 156.8% during the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after buying an additional 635 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEM. Scotiabank decreased their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Citigroup decreased their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada lowered their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Finally, National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.35.

Newmont Trading Down 1.0 %

NYSE NEM traded down $0.39 during trading hours on Friday, hitting $40.66. 7,306,324 shares of the company’s stock were exchanged, compared to its average volume of 14,411,746. The stock has a 50-day simple moving average of $36.40 and a 200 day simple moving average of $37.02. The firm has a market cap of $46.89 billion, a price-to-earnings ratio of -15.23, a PEG ratio of 0.96 and a beta of 0.48. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue was up 50.2% on a year-over-year basis. On average, equities analysts forecast that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

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.