Jefferies Financial Group Inc. Buys 21,330 Shares of Newmont Corporation $NEM

Jefferies Financial Group Inc. boosted its position in shares of Newmont Corporation (NYSE:NEM) by 178.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,298 shares of the basic materials company’s stock after acquiring an additional 21,330 shares during the period. Jefferies Financial Group Inc.’s holdings in Newmont were worth $3,110,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NEM. MASTERINVEST Kapitalanlage GmbH raised its stake in shares of Newmont by 26.6% in the second quarter. MASTERINVEST Kapitalanlage GmbH now owns 31,551 shares of the basic materials company’s stock valued at $2,947,000 after purchasing an additional 6,636 shares in the last quarter. Almitas Capital LLC bought a new stake in Newmont in the second quarter valued at about $635,000. Redwood Investment Management LLC raised its position in Newmont by 116.4% in the second quarter. Redwood Investment Management LLC now owns 13,200 shares of the basic materials company’s stock worth $1,233,000 after purchasing an additional 7,100 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Newmont by 55.9% during the second quarter. Proficio Capital Partners LLC now owns 12,719 shares of the basic materials company’s stock worth $1,188,000 after purchasing an additional 4,558 shares during the period. Finally, Pure Financial Advisors LLC lifted its position in shares of Newmont by 27.2% during the 2nd quarter. Pure Financial Advisors LLC now owns 5,544 shares of the basic materials company’s stock worth $518,000 after buying an additional 1,184 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NEM. Royal Bank Of Canada dropped their price objective on Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a report on Friday, August 14th. UBS Group dropped their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Citigroup cut their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Finally, Argus set a $110.00 target price on Newmont in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.73.

Insider Activity

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. 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 quarter, insiders have sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is currently owned by insiders.

Newmont Stock Down 3.4%

Shares of NEM opened at $127.84 on Friday. The business’s fifty day moving average price is $104.23 and its two-hundred day moving average price is $109.57. The firm has a market capitalization of $134.70 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.36 and a beta of 0.47. Newmont Corporation has a 52 week low of $72.78 and a 52 week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, analysts predict that Newmont Corporation will post 9.01 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. Newmont’s dividend payout ratio is presently 13.13%.

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.