Jump Financial LLC Takes $16.07 Million Position in Newmont Co. (NYSE:NEM)

Jump Financial LLC purchased a new position in Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 431,724 shares of the basic materials company's stock, valued at approximately $16,069,000.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Van ECK Associates Corp lifted its stake in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the period. Geode Capital Management LLC grew its stake in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in Newmont in the 4th quarter worth $626,074,000. Amundi raised its position in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the period. Finally, Invesco Ltd. lifted its holdings in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. Raymond James upped their target price on shares of Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. BMO Capital Markets assumed coverage on shares of Newmont in a research report on Wednesday. They set an "outperform" rating and a $63.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.02.

Newmont Stock Performance

Shares of NEM stock traded down $0.87 during mid-day trading on Friday, hitting $55.08. 14,364,376 shares of the stock were exchanged, compared to its average volume of 9,880,865. The stock has a market capitalization of $62.08 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The stock's fifty day simple moving average is $47.14 and its two-hundred day simple moving average is $45.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Newmont's dividend payout ratio (DPR) is 34.13%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company's stock, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares of the company's stock, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,154 shares of company stock valued at $825,678 over the last quarter. Insiders own 0.05% of the company's stock.

Newmont 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.