AlphaQuest LLC Has $668,000 Stock Holdings in Newmont Corporation $NEM

Key Points

• AlphaQuest LLC increased its holdings in Newmont Corporation by 108.6% in Q1, now owning 13,837 shares valued at approximately $668,000.
• Newmont recently reported earnings of $1.43 per share, significantly surpassing analysts' expectations, and had a net margin of 30.50% for the quarter.
• The company also announced a quarterly dividend of $0.25 per share, with the dividend yield being 1.4% and a payout ratio of 17.95%.

AlphaQuest LLC grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 108.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,837 shares of the basic materials company's stock after buying an additional 7,203 shares during the period. AlphaQuest LLC's holdings in Newmont were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Nuveen LLC bought a new position in Newmont during the first quarter worth about $306,507,000. Pacer Advisors Inc. lifted its holdings in shares of Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock valued at $259,580,000 after purchasing an additional 5,251,616 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Newmont during the 4th quarter valued at about $92,693,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Newmont during the 4th quarter valued at about $75,435,000. Finally, Man Group plc lifted its holdings in shares of Newmont by 42.2% during the 4th quarter. Man Group plc now owns 5,030,228 shares of the basic materials company's stock valued at $187,225,000 after purchasing an additional 1,493,843 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 0.8%

Shares of Newmont stock traded up $0.61 on Thursday, reaching $73.00. 6,794,550 shares of the company were exchanged, compared to its average volume of 8,557,717. Newmont Corporation has a one year low of $36.86 and a one year high of $73.29. The company has a market capitalization of $80.18 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.86 and a beta of 0.30. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $63.58 and a 200 day moving average of $54.77.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company 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 business posted $0.72 EPS. The business's revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Newmont's dividend payout ratio is currently 17.95%.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. Stifel Nicolaus began coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective on the stock. Scotiabank lifted their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Raymond James Financial lifted their price objective on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Royal Bank Of Canada lifted their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $60.90 price objective on shares of Newmont in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Insider Transactions at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the transaction, the director directly owned 41,026 shares in the company, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,246 shares of company stock worth $1,373,251 in the last 90 days. Corporate insiders own 0.05% of the company's stock.

Newmont Company 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.