SYM FINANCIAL Corp Purchases New Stake in Newmont Corporation $NEM

SYM FINANCIAL Corp acquired a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,907 shares of the basic materials company’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky purchased a new position in Newmont in the third quarter valued at $70,000. Ashton Thomas Securities LLC acquired a new stake in Newmont in the third quarter valued at $254,000. Pflug Koory LLC acquired a new stake in Newmont in the third quarter valued at $213,000. Total Clarity Wealth Management Inc. purchased a new stake in Newmont during the 3rd quarter worth about $660,000. Finally, Penobscot Investment Management Company Inc. purchased a new stake in Newmont during the 3rd quarter worth about $206,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 1.1%

NYSE NEM opened at $113.89 on Thursday. The firm’s fifty day moving average is $121.31 and its two-hundred day moving average is $112.50. Newmont Corporation has a one year low of $78.60 and a one year high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. The firm has a market cap of $118.36 billion, a PE ratio of 13.24, a P/E/G ratio of 2.01 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is currently 12.09%.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,973 shares of company stock valued at $3,927,169 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. RBC Dominion Securities set a $155.00 price objective on Newmont and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. TD Cowen cut their target price on Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Weiss Ratings upgraded Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Finally, BMO Capital Markets boosted their target price on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.20.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.