Jaffetilchin Investment Partners LLC Grows Position in Newmont Corporation (NYSE:NEM)

Jaffetilchin Investment Partners LLC raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 93.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,714 shares of the basic materials company's stock after purchasing an additional 12,909 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Newmont were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ipswich Investment Management Co. Inc. raised its holdings in shares of Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Newmont by 3.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after buying an additional 219 shares during the last quarter. Rothschild Investment LLC increased its holdings in Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after acquiring an additional 219 shares during the last quarter. Finally, Keel Point LLC increased its holdings in Newmont by 2.0% in the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock worth $550,000 after acquiring an additional 287 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, Scotiabank reissued a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.38.

Newmont Stock Down 4.1%

NEM stock traded down $2.43 during midday trading on Friday, hitting $56.76. The stock had a trading volume of 16,535,668 shares, compared to its average volume of 10,569,425. The firm has a market cap of $63.17 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.75 and a beta of 0.31. The business has a 50-day moving average of $54.18 and a two-hundred day moving average of $47.57. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $60.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, equities research analysts forecast 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. Stockholders of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,154 shares of company stock valued at $381,539. 0.05% of the stock is owned by insiders.

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.