Axxcess Wealth Management LLC Sells 3,602 Shares of Newmont Co. (NYSE:NEM)

Axxcess Wealth Management LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,547 shares of the basic materials company’s stock after selling 3,602 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Newmont were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NEM. Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont during the 3rd quarter valued at $28,000. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Promus Capital LLC purchased a new position in shares of Newmont in the fourth quarter valued at about $38,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $47.75 on Friday. The business has a fifty day moving average price of $43.94 and a 200-day moving average price of $45.67. 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 company has a market capitalization of $53.80 billion, a PE ratio of 16.30, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $33.77 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, equities analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.09%. Newmont’s dividend payout ratio is 34.13%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NEM shares. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada lifted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank decreased their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.