Vinva Investment Management Ltd Acquires 45,196 Shares of Newmont Co. (NYSE:NEM)

Vinva Investment Management Ltd raised its position in shares of Newmont Co. (NYSE:NEM) by 190.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,923 shares of the basic materials company’s stock after acquiring an additional 45,196 shares during the period. Vinva Investment Management Ltd’s holdings in Newmont were worth $3,715,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Newmont during the first quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter worth approximately $27,000. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter worth approximately $27,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $42.04 on Friday. The firm’s fifty day moving average price is $49.35 and its two-hundred day moving average price is $47.43. The stock has a market cap of $47.86 billion, a PE ratio of -27.66, a PEG ratio of 0.36 and a beta of 0.51. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities analysts expect that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Royal Bank of Canada dropped their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is owned by insiders.

Newmont 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.