Newmont Co. (NYSE:NEM) Holdings Decreased by Syntax Research Inc.

Syntax Research Inc. reduced its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 58.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,292 shares of the basic materials company's stock after selling 49,156 shares during the quarter. Newmont accounts for 1.2% of Syntax Research Inc.'s portfolio, making the stock its 29th largest position. Syntax Research Inc.'s holdings in Newmont were worth $1,833,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NEM. Heathbridge Capital Management Ltd. grew its position in Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company's stock valued at $551,000 after acquiring an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company's stock valued at $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. increased its stake in Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company's stock worth $812,000 after buying an additional 221 shares during the period. Carmel Capital Partners LLC lifted its holdings in Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company's stock worth $279,000 after buying an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC boosted its position in Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company's stock valued at $277,000 after buying an additional 229 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company's stock, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

Newmont stock traded down $2.16 during midday trading on Wednesday, reaching $37.64. 16,371,811 shares of the stock traded hands, compared to its average volume of 10,491,125. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market cap of $42.85 billion, a price-to-earnings ratio of -24.76, a PEG ratio of 0.36 and a beta of 0.49. The firm has a fifty day moving average price of $45.98 and a two-hundred day moving average price of $47.37.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the company earned $0.36 earnings per share. The business's quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. Newmont's dividend payout ratio is presently -65.79%.

Analysts Set New Price Targets

NEM has been the topic of several recent analyst reports. Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group upped their target price on Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Argus raised shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research report on Thursday, August 29th. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and cut their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, Veritas upgraded Newmont to a "strong-buy" rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $54.31.

About Newmont

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.