Syntax Research Inc. Has $2.68 Million Position in Newmont Co. (NYSE:NEM)

Syntax Research Inc. lifted its position in Newmont Co. (NYSE:NEM - Free Report) by 110.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 72,125 shares of the basic materials company's stock after purchasing an additional 37,833 shares during the quarter. Newmont accounts for approximately 1.9% of Syntax Research Inc.'s holdings, making the stock its 23rd biggest holding. Syntax Research Inc.'s holdings in Newmont were worth $2,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NEM. Confluence Investment Management LLC grew its holdings in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock worth $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. lifted its position in Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after buying an additional 292 shares in the last quarter. Intact Investment Management Inc. grew its holdings in Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after acquiring an additional 300 shares during the last quarter. Fiduciary Financial Group LLC increased its position in Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock valued at $338,000 after acquiring an additional 303 shares in the last quarter. Finally, Conning Inc. lifted its position in shares of Newmont by 6.0% during the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company's stock worth $203,000 after purchasing an additional 311 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, November 25th. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $53.16.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company's stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Up 1.4 %

Shares of Newmont stock traded up $0.66 on Tuesday, hitting $47.48. The company had a trading volume of 8,066,871 shares, compared to its average volume of 9,379,295. The stock has a 50-day moving average of $44.40 and a 200-day moving average of $45.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a twelve month low of $34.00 and a twelve month high of $58.72. The firm has a market capitalization of $53.52 billion, a P/E ratio of 16.20, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont's dividend payout ratio is presently 34.13%.

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.