Virtu Financial LLC Invests $3.31 Million in Newmont Co. (NYSE:NEM)

Virtu Financial LLC purchased a new position in Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 80,044 shares of the basic materials company’s stock, valued at approximately $3,313,000.

Several other large investors have also recently made changes to their positions in NEM. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Newmont in the 3rd quarter worth $597,000. Blair William & Co. IL increased its position in Newmont by 37.4% during the 3rd quarter. Blair William & Co. IL now owns 44,779 shares of the basic materials company’s stock valued at $1,655,000 after buying an additional 12,180 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in Newmont during the 3rd quarter valued at about $220,000. Deseret Mutual Benefit Administrators increased its position in Newmont by 21.5% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 3,922 shares of the basic materials company’s stock valued at $145,000 after buying an additional 694 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Newmont by 22.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 533,629 shares of the basic materials company’s stock valued at $20,022,000 after purchasing an additional 96,921 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several research analyst reports. BMO Capital Markets dropped their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Scotiabank upped their target price on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Finally, TD Securities upped their target price on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.36.

Newmont Price Performance

NEM stock traded up $0.26 during mid-day trading on Friday, reaching $40.82. 5,505,282 shares of the company’s stock were exchanged, compared to its average volume of 7,632,789. The company has a market cap of $47.07 billion, a price-to-earnings ratio of -15.29, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52. The stock’s 50 day moving average is $41.06 and its 200 day moving average is $37.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $45.92.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. Newmont’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, research analysts expect that Newmont Co. will post 2.42 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. Newmont’s payout ratio is currently -37.45%.

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.