Jones Financial Companies Lllp Raises Stock Holdings in Newmont Corporation $NEM

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Newmont Corporation by 3,356.3% during the first quarter, acquiring an additional 523,483 shares for a total of 539,080 shares, valued at approximately $26 million.
• Newmont reported a quarterly EPS of $1.43, surpassing analysts' estimates by $0.48, with a year-over-year revenue increase of 20.8% to $5.32 billion.
• The company has announced a quarterly dividend of $0.25 per share, translating to an annual yield of 1.3%, with a dividend payout ratio of 17.95%.

Jones Financial Companies Lllp lifted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 3,356.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 539,080 shares of the basic materials company's stock after acquiring an additional 523,483 shares during the quarter. Jones Financial Companies Lllp's holdings in Newmont were worth $26,027,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SOA Wealth Advisors LLC. raised its holdings in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Newmont in the 1st quarter worth approximately $26,000. Colonial Trust Advisors raised its holdings in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares during the period. Private Trust Co. NA raised its holdings in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the period. Finally, Nexus Investment Management ULC bought a new stake in shares of Newmont in the 1st quarter worth approximately $31,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $76.14 on Monday. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $77.30. The company has a 50 day simple moving average of $65.61 and a two-hundred day simple moving average of $56.06. The company has a market capitalization of $83.64 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 0.92 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23.

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

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on NEM. Scotiabank lifted their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. Macquarie lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. UBS Group boosted their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $65.15.

Insider Buying and Selling

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% 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. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction 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. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,246 shares of company stock worth $1,253,559. 0.05% of the stock is owned by insiders.

About Newmont

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.

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