Synergy Asset Management LLC Buys Shares of 326,399 Newmont Corporation $NEM

Synergy Asset Management LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 326,399 shares of the basic materials company’s stock, valued at approximately $19,016,000. Newmont makes up 2.2% of Synergy Asset Management LLC’s portfolio, making the stock its 16th largest holding.

Several other institutional investors have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont during the 1st quarter worth approximately $26,000. Colonial Trust Advisors raised its stake in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of Newmont during the 1st quarter worth approximately $32,000. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of analyst reports. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. National Bankshares reiterated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. BNP Paribas Exane upped their price objective on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada upgraded Newmont from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $73.38.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the sale, the director directly owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,169 shares of company stock valued at $955,286 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Up 0.5%

NEM opened at $86.35 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $87.93. The stock’s fifty day simple moving average is $73.95 and its 200 day simple moving average is $60.81. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a market cap of $94.85 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio is currently 17.95%.

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.