Jefferies Financial Group Inc. Has $3.11 Million Stock Holdings in Newmont Corporation $NEM

Jefferies Financial Group Inc. lifted its position in shares of Newmont Corporation (NYSE:NEM) by 178.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,298 shares of the basic materials company’s stock after purchasing an additional 21,330 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Newmont were worth $3,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares in the last quarter. Woodline Partners LP grew its position in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Newmont in the 2nd quarter valued at approximately $240,000. Cerity Partners LLC increased its stake in Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 32,091 shares of company stock valued at $3,292,513. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup cut their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. National Bank Financial cut their price objective on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. The Goldman Sachs Group reduced their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a research note on Friday, August 14th. Finally, Weiss Ratings lowered Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Stock Performance

Shares of NEM opened at $127.84 on Friday. Newmont Corporation has a 12 month low of $72.78 and a 12 month high of $135.29. The firm has a fifty day simple moving average of $104.23 and a 200 day simple moving average of $109.57. The stock has a market capitalization of $134.70 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.36 and a beta of 0.47. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the business earned $1.43 EPS. Research analysts forecast that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.

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.