15,472 Shares in Newmont Co. (NYSE:NEM) Acquired by Virtue Capital Management LLC

Virtue Capital Management LLC bought a new stake in Newmont Co. (NYSE:NEM) in the third quarter, HoldingsChannel.com reports. The firm bought 15,472 shares of the basic materials company’s stock, valued at approximately $827,000.

A number of other hedge funds have also bought and sold shares of NEM. Zurich Insurance Group Ltd FI bought a new stake in Newmont in the 3rd quarter valued at about $98,011,000. Van ECK Associates Corp boosted its stake in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares during the period. FMR LLC grew its position in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the period. Finally, National Bank of Canada FI raised its holdings in Newmont by 47.7% in the 2nd quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company’s stock valued at $140,460,000 after acquiring an additional 1,088,742 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Raymond James decreased their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Royal Bank of Canada cut their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Stock Performance

NYSE:NEM opened at $41.50 on Wednesday. The stock’s 50-day moving average is $47.48 and its 200-day moving average is $47.41. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $47.25 billion, a P/E ratio of -27.30, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49.

Newmont (NYSE:NEM) last posted 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 business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is presently -65.79%.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.