Virtu Financial LLC Sells 62,356 Shares of Newmont Co. (NYSE:NEM)

Virtu Financial LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 77.9% during the first quarter, HoldingsChannel.com reports. The firm owned 17,688 shares of the basic materials company’s stock after selling 62,356 shares during the quarter. Virtu Financial LLC’s holdings in Newmont were worth $634,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC grew its position in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after buying an additional 397 shares in the last quarter. Heritage Wealth Advisors boosted its holdings in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Newmont in the 1st quarter worth about $35,000. Advantage Trust Co purchased a new position in shares of Newmont in the 4th quarter worth about $41,000. Finally, Rise Advisors LLC boosted its holdings in shares of Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 973 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NEM shares. Jefferies Financial Group upped their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Citigroup cut their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Sanford C. Bernstein cut their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. Bank of America increased their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the sale, the chief executive officer now directly owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 2.1 %

Shares of Newmont stock traded down $1.04 during midday trading on Friday, hitting $48.51. The company had a trading volume of 11,147,185 shares, compared to its average volume of 11,250,648. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a market capitalization of $55.66 billion, a P/E ratio of -17.85, a P/E/G ratio of 0.37 and a beta of 0.47. The company has a 50 day moving average of $43.82 and a 200 day moving average of $39.06. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. On average, equities analysts predict that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 2.06%. Newmont’s dividend payout ratio is -37.45%.

Newmont Company Profile

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.