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

Key Points

• Jefferies Financial Group sharply increased its stake in Newmont during the fourth quarter, boosting holdings by 3,224.7% to 86,144 shares valued at about $8.6 million.
• Newmont delivered a strong quarterly earnings beat, reporting $2.90 EPS versus the $2.07 estimate and $7.31 billion in revenue, with revenue up 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, payable June 22, while analysts maintain a generally positive outlook with an average price target of $142.05.

Jefferies Financial Group Inc. raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 3,224.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,144 shares of the basic materials company's stock after purchasing an additional 83,553 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Newmont were worth $8,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its stake in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after buying an additional 236 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $107.74 on Monday. The stock has a fifty day moving average price of $111.03 and a 200 day moving average price of $108.19. The stock has a market cap of $115.02 billion, a PE ratio of 13.97, a P/E/G ratio of 1.54 and a beta of 0.43. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont's revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. Sell-side analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In related news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares of the company's stock, valued at approximately $5,430,074.65. This represents a 5.73% 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. In the last ninety days, insiders sold 43,068 shares of company stock valued at $4,769,475. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NEM. Barclays began coverage on Newmont in a research note on Thursday. They issued an "overweight" rating and a $133.00 price target on the stock. National Bank Financial lifted their price target on Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Canaccord Genuity Group lifted their price target on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted their price target on Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Finally, BNP Paribas Exane lifted their price target on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of "Moderate Buy" and an average target price of $142.05.

Newmont Company 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.

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