Jaffetilchin Investment Partners LLC Has $1.29 Million Stake in Newmont Corporation (NYSE:NEM)

Jaffetilchin Investment Partners LLC raised its stake in shares of Newmont Corporation (NYSE:NEM) by 93.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 26,714 shares of the basic materials company’s stock after purchasing an additional 12,909 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Newmont were worth $1,290,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock valued at $3,575,000 after purchasing an additional 8,678 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Newmont by 773.7% in the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock worth $2,511,000 after buying an additional 59,740 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Newmont in the 1st quarter worth approximately $202,000. Callan Family Office LLC purchased a new position in shares of Newmont in the 4th quarter worth approximately $481,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Newmont in the 4th quarter worth approximately $316,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. National Bankshares restated a “sector perform” rating on shares of Newmont in a research note on Tuesday. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $58.38.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now 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 SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. The trade was 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 90 days. 0.05% of the stock is currently owned by company insiders.

Newmont Price Performance

Newmont stock opened at $56.76 on Friday. The business’s 50 day simple moving average is $54.18 and its 200 day simple moving average is $47.53. 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 Corporation has a 12 month low of $36.86 and a 12 month high of $60.31. The company has a market cap of $63.17 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.78 and a beta of 0.31.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. Sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. Newmont’s payout ratio is 22.42%.

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.