Virtu Financial LLC Buys 54,081 Shares of Newmont Co. (NYSE:NEM)

Virtu Financial LLC raised its stake in Newmont Co. (NYSE:NEM) by 233.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,217 shares of the basic materials company’s stock after buying an additional 54,081 shares during the period. Virtu Financial LLC’s holdings in Newmont were worth $2,874,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NEM. Avior Wealth Management LLC boosted its position in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the 3rd quarter valued at about $28,000. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $38,000. Finally, McIlrath & Eck LLC boosted its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Finally, Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Stock Performance

Shares of Newmont stock opened at $47.23 on Friday. The company has a market cap of $53.22 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $33.86 and a 52 week high of $58.72. The business has a 50 day moving average price of $44.10 and a 200-day moving average price of $45.58. 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 issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

About Newmont

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.