Virtue Capital Management LLC Buys Shares of 15,472 Newmont Co. (NYSE:NEM)

Virtue Capital Management LLC bought a new stake in Newmont Co. (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,472 shares of the basic materials company's stock, valued at approximately $827,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Strategic Financial Concepts LLC bought a new position in Newmont during the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter worth $27,000. Hoese & Co LLP acquired a new position in Newmont in the 3rd quarter worth about $27,000. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Newmont during the 3rd quarter worth $28,000. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

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

Newmont Stock Performance

NYSE:NEM traded up $0.79 during trading hours on Wednesday, hitting $42.28. 8,353,359 shares of the company were exchanged, compared to its average volume of 10,470,859. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The stock has a market capitalization of $48.13 billion, a price-to-earnings ratio of -27.76, a PEG ratio of 0.35 and a beta of 0.49. The company's 50 day moving average price is $47.23 and its 200-day moving average price is $47.41.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, research analysts forecast that Newmont Co. will post 3.08 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 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cibc World Mkts downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Royal Bank of Canada lowered their target price on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 24th. CIBC lowered Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, Jefferies Financial Group increased their price target on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $54.31.

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.