44,965 Shares of Newmont Corporation $NEM Purchased by Virtue Capital Management LLC

Virtue Capital Management LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 44,965 shares of the basic materials company’s stock, valued at approximately $5,186,000.

Other large investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC purchased a new position in Newmont in the 1st quarter worth approximately $25,000. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $28,000. Financial Management Professionals Inc. purchased a new stake in shares of Newmont during the third quarter valued at approximately $30,000. Clearstead Trust LLC bought a new position in shares of Newmont in the second quarter worth approximately $25,000. Finally, Kilter Group LLC bought a new position in shares of Newmont in the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,973 shares of company stock valued at $3,646,819. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM opened at $106.60 on Monday. Newmont Corporation has a twelve month low of $78.60 and a twelve month high of $135.29. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $120.62 and its 200 day simple moving average is $112.48. The stock has a market cap of $110.78 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.51.

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

Newmont Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on NEM. Freedom Broker downgraded shares of Newmont from a “buy” rating to a “hold” rating and decreased their target price for the stock from $130.00 to $116.00 in a research note on Thursday, October 22nd. Bank of America upped their price objective on shares of Newmont from $135.00 to $145.00 in a research note on Monday, August 17th. RBC Dominion Securities set a $155.00 target price on Newmont and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Citigroup raised their target price on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Finally, National Bank Financial reduced their price target on Newmont from $140.00 to $135.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Company Profile

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.