Vinva Investment Management Ltd Purchases 45,196 Shares of Newmont Co. (NYSE:NEM)

Vinva Investment Management Ltd raised its position in shares of Newmont Co. (NYSE:NEM) by 190.5% during the third quarter, HoldingsChannel.com reports. The fund owned 68,923 shares of the basic materials company’s stock after buying an additional 45,196 shares during the quarter. Vinva Investment Management Ltd’s holdings in Newmont were worth $3,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NEM. Janus Henderson Group PLC raised its holdings in shares of Newmont by 19.1% during the first quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company’s stock valued at $12,256,000 after purchasing an additional 54,761 shares during the period. LRI Investments LLC acquired a new position in shares of Newmont during the first quarter valued at about $25,000. Swedbank AB acquired a new position in shares of Newmont during the first quarter valued at about $29,788,000. Cetera Investment Advisers raised its holdings in shares of Newmont by 990.2% during the first quarter. Cetera Investment Advisers now owns 205,894 shares of the basic materials company’s stock valued at $7,379,000 after purchasing an additional 187,008 shares during the period. Finally, Cetera Advisors LLC raised its holdings in shares of Newmont by 30.3% during the first quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock valued at $769,000 after purchasing an additional 4,987 shares during the period. 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 stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.1 %

Newmont stock opened at $42.04 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a 50 day moving average price of $49.35 and a 200-day moving average price of $47.43. The company has a market capitalization of $47.86 billion, a P/E ratio of -27.66, a P/E/G ratio of 0.36 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company 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 period in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NEM shares. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group upped their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

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.