Graham Capital Management L.P. Acquires New Holdings in Newmont Corporation $NEM

Key Points

• Graham Capital Management L.P. acquired a stake in Newmont Corporation, purchasing 17,081 shares valued at approximately $825,000 during the first quarter.
• Newmont's quarterly earnings surpassed expectations, reporting $1.43 EPS against a consensus estimate of $0.95 and a revenue of $5.32 billion.
• The company declared a quarterly dividend of $0.25 per share, reflecting a 1.3% annual yield, with the ex-dividend date set for September 4th.

Graham Capital Management L.P. bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,081 shares of the basic materials company's stock, valued at approximately $825,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the period. Aptus Capital Advisors LLC purchased a new position in shares of Newmont during the fourth quarter valued at about $469,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Newmont by 14.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 400,592 shares of the basic materials company's stock worth $14,910,000 after buying an additional 49,794 shares in the last quarter. FORA Capital LLC purchased a new stake in Newmont in the fourth quarter worth about $6,298,000. Finally, Ethic Inc. bought a new stake in Newmont during the 4th quarter valued at approximately $495,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total transaction of $154,923.43. Following the sale, the director owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,246 shares of company stock worth $1,253,559. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Up 1.7%

Shares of NYSE NEM traded up $1.26 during trading on Friday, reaching $76.14. The company had a trading volume of 8,676,401 shares, compared to its average volume of 7,931,247. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $77.30. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The business's 50-day moving average is $65.61 and its 200 day moving average is $56.00. The stock has a market cap of $83.64 billion, a PE ratio of 13.67, a P/E/G ratio of 0.92 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont's payout ratio is 17.95%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. BNP Paribas downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday. Scotiabank boosted their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Finally, Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average target price of $65.15.

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.