Aspetuck Financial Management LLC Makes New $242,000 Investment in Newmont Corporation (NYSE:NEM)

Aspetuck Financial Management LLC purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,014 shares of the basic materials company's stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Newmont by 5.2% during 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 in the last quarter. Norges Bank acquired a new stake in shares of Newmont during the 4th quarter valued at about $626,074,000. Northern Trust Corp boosted its position in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after acquiring an additional 1,309,177 shares in the last quarter. Amundi boosted its position in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 0.1%

Shares of NYSE NEM opened at $58.06 on Thursday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31. The company has a market cap of $64.62 billion, a PE ratio of 13.02, a P/E/G ratio of 0.76 and a beta of 0.31. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $54.07 and a two-hundred day moving average of $47.31.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEM shares. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Royal Bank Of Canada lifted their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,154 shares of company stock valued at $381,539. 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.

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