Virtu Financial LLC Grows Holdings in Newmont Co. (NYSE:NEM)

Virtu Financial LLC boosted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 183.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,136 shares of the basic materials company's stock after buying an additional 14,967 shares during the quarter. Virtu Financial LLC's holdings in Newmont were worth $1,237,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont in the third quarter valued at approximately $98,011,000. Van ECK Associates Corp lifted its holdings in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company's stock worth $2,131,939,000 after buying an additional 1,289,084 shares during the period. FMR LLC grew its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock worth $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock valued at $80,960,000 after buying an additional 1,096,905 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Newmont by 47.7% in the second quarter. National Bank of Canada FI now owns 3,372,670 shares of the basic materials company's stock valued at $140,460,000 after acquiring an additional 1,088,742 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of several recent research reports. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. UBS Group downgraded shares of Newmont from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank downgraded shares of Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. CLSA began coverage on Newmont in a report on Friday, November 29th. They set an "underperform" rating for the company. Finally, JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.31.

Insider Activity

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. The trade was a 6.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Down 3.2 %

Shares of NEM traded down $1.34 during mid-day trading on Friday, hitting $40.22. 11,263,299 shares of the company traded hands, compared to its average volume of 10,461,683. The company has a market capitalization of $45.79 billion, a PE ratio of -27.34, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $46.76 and a 200 day moving average of $47.33. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.49%. Newmont's payout ratio is presently -65.79%.

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.