Newmont Corporation $NEM Stake Trimmed by Syntax Research Inc.

Syntax Research Inc. lowered its stake in Newmont Corporation (NYSE:NEM) by 97.0% during the second quarter, HoldingsChannel reports. The firm owned 1,872 shares of the basic materials company’s stock after selling 60,062 shares during the period. Syntax Research Inc.’s holdings in Newmont were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NEM. Nuveen LLC purchased a new position in Newmont in the 1st quarter worth about $306,507,000. Pacer Advisors Inc. grew its stake in Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after acquiring an additional 5,251,616 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after acquiring an additional 4,399,778 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after acquiring an additional 2,206,017 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Newmont by 2,003.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock valued at $92,119,000 after acquiring an additional 1,506,010 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,169 shares of company stock worth $955,286. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. The Goldman Sachs Group lifted their target price on Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $73.38.

Newmont Trading Up 0.5%

Shares of NYSE NEM opened at $86.35 on Friday. The stock has a market cap of $94.85 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.96 and a beta of 0.34. The business has a 50 day simple moving average of $73.95 and a 200 day simple moving average of $60.81. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $87.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s payout ratio is 17.95%.

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.