Newmont Co. (NYSE:NEM) Shares Purchased by Syntax Research Inc.

Syntax Research Inc. lifted its stake in Newmont Co. (NYSE:NEM) by 110.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 72,125 shares of the basic materials company’s stock after purchasing an additional 37,833 shares during the quarter. Newmont accounts for 1.9% of Syntax Research Inc.’s portfolio, making the stock its 23rd largest position. Syntax Research Inc.’s holdings in Newmont were worth $2,684,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC lifted its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Promus Capital LLC acquired a new stake in Newmont during the 4th quarter worth approximately $38,000. McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Newmont during the 4th quarter worth approximately $43,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEM shares. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Down 1.1 %

NYSE NEM opened at $47.23 on Monday. 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 firm’s fifty day moving average price is $44.10 and its 200 day moving average price is $45.54. The company has a market capitalization of $53.24 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $33.86 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Newmont Company 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.