Jump Financial LLC Lowers Stock Holdings in Newmont Corporation $NEM

Key Points

• Jump Financial LLC drastically cut its stake in Newmont Corporation, reducing its holdings by 96.5% to 15,279 shares after selling 416,445 shares during the first quarter, leaving the value of those holdings at $738,000.
• Newmont reported a quarterly EPS of $1.43, surpassing analysts' expectations of $0.95, with revenue at $5.32 billion, marking a significant 20.8% year-over-year increase.
• The company also announced a quarterly dividend of $0.25, translating to an annualized yield of 1.3%, payable on September 29th to investors registered by September 4th.

Jump Financial LLC lessened its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 96.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,279 shares of the basic materials company's stock after selling 416,445 shares during the period. Jump Financial LLC's holdings in Newmont were worth $738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hartree Partners LP purchased a new position in shares of Newmont in the 1st quarter worth approximately $1,062,000. Smartleaf Asset Management LLC raised its holdings in shares of Newmont by 25.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the basic materials company's stock worth $211,000 after purchasing an additional 894 shares during the period. Rahlfs Capital LLC raised its holdings in shares of Newmont by 59.5% in the 1st quarter. Rahlfs Capital LLC now owns 26,110 shares of the basic materials company's stock worth $1,261,000 after purchasing an additional 9,735 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Newmont by 333.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 89,037 shares of the basic materials company's stock worth $4,299,000 after purchasing an additional 68,473 shares during the period. Finally, Haverford Trust Co bought a new stake in shares of Newmont in the 1st quarter worth approximately $230,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NYSE:NEM traded down $0.43 during midday trading on Wednesday, hitting $75.43. The company had a trading volume of 8,877,629 shares, compared to its average volume of 11,714,044. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $76.52. The stock's fifty day moving average price is $64.56 and its 200-day moving average price is $55.41. The company has a market capitalization of $82.86 billion, a PE ratio of 13.54, a P/E/G ratio of 0.88 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

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, beating the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the transaction, the director owned 41,026 shares in the company, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,169 shares of company stock valued at $1,098,636 over the last 90 days. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEM. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. 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. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Finally, National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.15.

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.