Virtu Financial LLC Acquires New Position in Newmont Corporation $NEM

Key Points

• Virtu Financial LLC disclosed a new fourth-quarter stake in Newmont, buying 13,609 shares valued at about $1.36 million.
• Newmont recently posted strong quarterly results, reporting $2.90 EPS versus $2.07 expected and revenue of $7.31 billion, with sales up 45.8% year over year.
• The company declared a quarterly dividend of $0.26 per share, payable June 22, while analysts currently rate the stock a Moderate Buy with an average price target of $140.98.

Virtu Financial LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,609 shares of the basic materials company's stock, valued at approximately $1,359,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GoalVest Advisory LLC bought a new position in shares of Newmont in the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in shares of Newmont during the 4th quarter worth $26,000. Cornerstone Planning Group LLC lifted its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after buying an additional 206 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Newmont in the fourth quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Newmont in the fourth quarter valued at about $30,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 0.1%

Shares of NEM stock opened at $103.86 on Friday. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The stock's fifty day simple moving average is $110.02 and its 200 day simple moving average is $110.56. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.72 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the company earned $1.25 earnings per share. The business's quarterly revenue was up 45.8% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the business'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 transaction of $252,812.56. Following the sale, the insider directly owned 23,163 shares of the company's stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,556 shares of company stock worth $3,120,276 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NEM. Macquarie Infrastructure lowered their target price on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, June 15th. BNP Paribas Exane reduced their price target on shares of Newmont from $128.00 to $111.00 and set a "neutral" rating on the stock in a research note on Thursday. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. National Bank Financial upped their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Finally, Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.98.

Key Stories Impacting Newmont

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

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.

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