Newmont Corporation $NEM Shares Newly Bought by Virtue Capital Management LLC

Virtue Capital Management LLC bought a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, Holdings Channel.com reports. The fund bought 44,965 shares of the basic materials company’s stock, valued at approximately $5,186,000.

A number of other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new position in shares of Newmont in the 1st quarter worth approximately $25,000. Clearstead Trust LLC purchased a new position in shares of Newmont in the second quarter worth approximately $25,000. Kilter Group LLC purchased a new position in shares of Newmont in the second quarter worth approximately $26,000. GoalVest Advisory LLC bought a new stake in Newmont during the third quarter valued at approximately $28,000. Finally, Financial Management Professionals Inc. bought a new stake in Newmont during the third quarter valued at approximately $30,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen reduced their target price on shares of Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Argus set a $110.00 price target on shares of Newmont and gave the stock a “buy” rating in a research note on Monday, August 3rd. BMO Capital Markets boosted their price objective on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Bank of America upped their price objective on Newmont from $135.00 to $145.00 in a research note on Monday, August 17th. Finally, Citigroup raised their target price on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.20.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 32,973 shares of company stock valued at $3,646,819. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $106.60 on Monday. Newmont Corporation has a 12 month low of $78.60 and a 12 month high of $135.29. The stock has a market cap of $110.78 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.95 and a beta of 0.51. The company’s 50 day moving average is $120.62 and its two-hundred day moving average is $112.48. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 earnings per share. As a group, research analysts anticipate that Newmont Corporation will post 9.11 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s payout ratio is 12.09%.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.