Jefferies Financial Group Inc. Raises Stock Holdings in Newmont Corporation $NEM

Jefferies Financial Group Inc. grew its stake in Newmont Corporation (NYSE:NEM) by 3,224.7% during the 4th quarter, Holdings Channel reports. The fund owned 86,144 shares of the basic materials company’s stock after acquiring an additional 83,553 shares during the period. Jefferies Financial Group Inc.’s holdings in Newmont were worth $8,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Apella Capital LLC lifted its position in shares of Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC lifted its position in shares of Newmont by 1.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after acquiring an additional 88 shares in the last quarter. Novem Group lifted its position in shares of Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 88 shares in the last quarter. Norden Group LLC lifted its position in shares of Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 90 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its position in shares of Newmont by 28.6% in the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the sale, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,068 shares of company stock worth $4,769,475 in the last three months. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

Newmont stock opened at $107.74 on Monday. The firm has a market capitalization of $115.02 billion, a P/E ratio of 13.97, a PEG ratio of 1.54 and a beta of 0.43. The stock has a fifty day moving average price of $111.03 and a 200 day moving average price of $108.19. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released 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. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEM. BNP Paribas Exane upped their price objective on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Stifel Nicolaus upped their target price on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Scotiabank dropped their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Finally, BMO Capital Markets upped their target price on Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.05.

Newmont Profile

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.