Syon Capital LLC Invests $549,000 in Newmont Co. (NYSE:NEM)

Syon Capital LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,271 shares of the basic materials company’s stock, valued at approximately $549,000.

Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in Newmont by 27.5% during the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after purchasing an additional 36,645 shares during the period. Janney Montgomery Scott LLC raised its stake in Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after buying an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after buying an additional 94,692 shares in the last quarter. KLCM Advisors Inc. lifted its holdings in Newmont by 4.3% during the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock worth $17,708,000 after buying an additional 17,791 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Newmont by 70.5% during the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after acquiring an additional 35,303 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. TD Securities raised their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Jefferies Financial Group began coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. Citigroup dropped their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reduced their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Newmont Trading Down 1.6 %

Shares of NYSE:NEM opened at $42.73 on Friday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The stock has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $36.95. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Co. will post 2.16 EPS for the current year.

Newmont Announces Dividend

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

Newmont Company 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.