Virtu Financial LLC Makes New Investment in Newmont Corporation $NEM

Virtu Financial LLC purchased a new stake in Newmont Corporation (NYSE:NEM) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 13,609 shares of the basic materials company’s stock, valued at approximately $1,359,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. CWM LLC boosted its stake in shares of Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after buying an additional 54,530 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after buying an additional 183,360 shares during the period. Leonteq Securities AG acquired a new position in Newmont in the fourth quarter valued at $9,018,000. Finally, Waverton Investment Management Ltd boosted its position in Newmont by 3.4% during the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after acquiring an additional 23,139 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.1%

NEM opened at $103.86 on Friday. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a market cap of $110.88 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a fifty day moving average price of $110.02 and a two-hundred day moving average price of $110.56.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is 13.49%.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,556 shares of company stock valued at $3,120,276 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NEM shares. Barclays assumed coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target for the company. BNP Paribas Exane cut their target price on Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a research report on Thursday. Canaccord Genuity Group raised their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Argus lifted their target price on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $140.98.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.