Syon Capital LLC Buys Shares of 8,070 Newmont Corporation $NEM

Syon Capital LLC bought a new position in Newmont Corporation (NYSE:NEM) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,070 shares of the basic materials company’s stock, valued at approximately $169,000.

Several other institutional investors have also modified their holdings of NEM. Pinnacle Bancorp Inc. purchased a new position in Newmont during the first quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Clearstead Trust LLC purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $25,000. Kilter Group LLC acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $26,000. Finally, Swiss RE Ltd. purchased a new stake in shares of Newmont during the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00. Following the sale, the executive vice president owned 37,315 shares of the company’s stock, valued at approximately $4,589,745. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the transaction, the chief executive officer directly owned 131,353 shares of the company’s stock, valued at $16,156,419. This trade represents a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,091 shares of company stock worth $3,414,187 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $126.05 on Friday. The company has a market cap of $132.82 billion, a P/E ratio of 15.92, a PEG ratio of 1.81 and a beta of 0.52. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The firm’s 50 day moving average price is $109.82 and its 200 day moving average price is $109.72.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the business posted $1.43 earnings per share. On average, research analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEM. BNP Paribas Exane decreased their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group cut their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Jefferies Financial Group decreased their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Bank of America lowered their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $132.11.

About Newmont

Newmont Corporation (NYSE: NEM) is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.