SYM FINANCIAL Corp Makes New Investment in Newmont Corporation $NEM

SYM FINANCIAL Corp bought a new position in Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 4,907 shares of the basic materials company’s stock, valued at approximately $566,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in shares of Newmont in the third quarter valued at about $70,000. Ashton Thomas Securities LLC acquired a new position in shares of Newmont during the third quarter worth about $254,000. Pflug Koory LLC purchased a new position in Newmont during the third quarter worth about $213,000. Total Clarity Wealth Management Inc. purchased a new position in Newmont during the third quarter worth about $660,000. Finally, Penobscot Investment Management Company Inc. purchased a new position in Newmont during the third quarter worth about $206,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. RBC Dominion Securities set a $155.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Scotiabank cut their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a research note on Tuesday. National Bank Financial reduced their price target on Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a report on Tuesday, October 20th. Finally, TD Cowen reduced their price target on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Stock Performance

Shares of NEM opened at $113.89 on Thursday. The company has a 50-day simple moving average of $121.31 and a 200-day simple moving average of $112.50. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The company has a market capitalization 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 Corporation has a 52-week low of $78.60 and a 52-week high of $135.29.

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

Newmont Dividend Announcement

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

Newmont Company Profile

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.