Newmont Co. (NYSE:NEM) Shares Sold by Virtu Financial LLC

Virtu Financial LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 77.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,688 shares of the basic materials company’s stock after selling 62,356 shares during the period. Virtu Financial LLC’s holdings in Newmont were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Meeder Advisory Services Inc. grew its stake in Newmont by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after buying an additional 278 shares during the last quarter. Moody National Bank Trust Division grew its stake in Newmont by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after buying an additional 296 shares during the last quarter. Berkeley Capital Partners LLC grew its stake in shares of Newmont by 5.6% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 318 shares during the last quarter. Crestmont Private Wealth LLC grew its stake in shares of Newmont by 4.9% in the 1st quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 319 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its stake in shares of Newmont by 0.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 98,992 shares of the basic materials company’s stock valued at $3,547,000 after purchasing an additional 338 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NEM shares. Sanford C. Bernstein lowered their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Bank of America lifted their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Securities lifted their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Newmont Trading Down 2.1 %

Shares of NYSE NEM traded down $1.04 during midday trading on Friday, reaching $48.51. 11,147,185 shares of the stock were exchanged, compared to its average volume of 11,250,648. The company has a market capitalization of $55.66 billion, a P/E ratio of -17.85, a P/E/G ratio of 0.37 and a beta of 0.47. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.72. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $43.82 and a 200-day moving average price of $39.06.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. Newmont’s revenue was up 64.1% compared to the same quarter last year. Equities research analysts expect that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Newmont’s payout ratio is -37.45%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the sale, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by insiders.

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.