Systrade AG Makes New $3.76 Million Investment in Newmont Co. (NYSE:NEM)

Systrade AG bought a new position in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 101,000 shares of the basic materials company’s stock, valued at approximately $3,759,000. Newmont makes up 6.1% of Systrade AG’s portfolio, making the stock its 3rd largest position.

Several other institutional investors have also recently made changes to their positions in NEM. Waverton Investment Management Ltd raised its position in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Red Cedar Investment Management LLC purchased a new stake in shares of Newmont in the third quarter worth $1,263,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $41.72 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s 50-day moving average is $40.29 and its 200 day moving average is $46.86.

Newmont (NYSE:NEM) last announced its quarterly earnings results 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts anticipate that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.40%. Newmont’s payout ratio is -65.79%.

Insider Buying and Selling at Newmont

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares in the company, 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 three months, insiders have sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NEM shares. Jefferies Financial Group increased their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Newmont 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.