Syon Capital LLC Acquires New Holdings in Newmont Co. (NYSE:NEM)

Syon Capital LLC bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, HoldingsChannel reports. The fund bought 13,271 shares of the basic materials company’s stock, valued at approximately $549,000.

Several other institutional investors also recently modified their holdings of NEM. TFC Financial Management Inc. increased its position in shares of Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after buying an additional 499 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Newmont in the 3rd quarter worth about $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont in the 4th quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in shares of Newmont during the 3rd quarter valued at about $30,000. Finally, CVA Family Office LLC acquired a new stake in Newmont during the fourth quarter worth approximately $34,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM opened at $42.73 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.98 and a current ratio of 2.15. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. The company has a 50-day simple moving average of $35.54 and a two-hundred day simple moving average of $36.95.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share 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 business 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 company earned $0.40 earnings per share. The business’s revenue was up 50.2% compared to the same quarter last year. Research analysts anticipate that Newmont Co. will post 2.16 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. Newmont’s payout ratio is currently -37.45%.

Analyst Ratings Changes

A number of research firms recently issued reports on NEM. Royal Bank of Canada dropped their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Citigroup dropped their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday. Finally, TD Securities upped their target price on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

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.