Procyon Advisors LLC Purchases 1,734 Shares of Newmont Co. (NYSE:NEM)

Procyon Advisors LLC raised its position in Newmont Co. (NYSE:NEM) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,064 shares of the basic materials company’s stock after buying an additional 1,734 shares during the quarter. Procyon Advisors LLC’s holdings in Newmont were worth $523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC raised its stake in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. Hoese & Co LLP purchased a new position in shares of Newmont in the third quarter worth about $27,000. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 14,077 shares of company stock worth $563,080 over the last three months. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James decreased 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. Finally, Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.80.

Newmont Price Performance

NEM opened at $41.72 on Friday. The stock has a market capitalization of $47.50 billion, a P/E ratio of -27.45, a PEG ratio of 0.31 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a 50-day moving average price of $40.29 and a 200-day moving average price of $46.83.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities analysts predict that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is presently -65.79%.

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.