Janney Montgomery Scott LLC Has $8.57 Million Holdings in Newmont Corporation (NYSE:NEM)

Janney Montgomery Scott LLC raised its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 177,531 shares of the basic materials company's stock after purchasing an additional 14,980 shares during the quarter. Janney Montgomery Scott LLC's holdings in Newmont were worth $8,571,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. M.E. Allison & CO. Inc. bought a new stake in shares of Newmont during the 1st quarter worth $349,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Newmont in the first quarter valued at $251,000. North Star Investment Management Corp. lifted its holdings in shares of Newmont by 10.3% in the first quarter. North Star Investment Management Corp. now owns 31,574 shares of the basic materials company's stock valued at $1,524,000 after purchasing an additional 2,952 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Newmont by 2.3% in the first quarter. Brighton Jones LLC now owns 13,924 shares of the basic materials company's stock valued at $672,000 after purchasing an additional 318 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Newmont by 669.9% in the first quarter. Exchange Traded Concepts LLC now owns 66,519 shares of the basic materials company's stock valued at $3,212,000 after purchasing an additional 57,879 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In other news, 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 value of $106,923.96. Following the transaction, the director now directly owns 47,257 shares of the company's stock, valued at $2,432,790.36. The trade was a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $381,539 in the last three months. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Raymond James Financial restated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Performance

NEM stock traded down $0.04 during trading on Friday, reaching $58.22. 22,113,769 shares of the stock were exchanged, compared to its average volume of 10,465,606. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $59.16. The company has a market capitalization of $64.79 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31. The stock has a 50 day simple moving average of $53.86 and a 200-day simple moving average of $46.99. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last released 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. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period last year, the business earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Newmont Company 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.