Hager Investment Management Services LLC Has $661,000 Stake in Newmont Corporation $NEM

Hager Investment Management Services LLC grew its position in Newmont Corporation (NYSE:NEM) by 133.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,841 shares of the basic materials company’s stock after acquiring an additional 4,485 shares during the period. Hager Investment Management Services LLC’s holdings in Newmont were worth $661,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NEM. Brighton Jones LLC boosted its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Newmont during the 2nd quarter worth about $240,000. Nisa Investment Advisors LLC lifted its position in shares of Newmont by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 114,565 shares of the basic materials company’s stock worth $6,675,000 after purchasing an additional 821 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Raymond James Financial boosted their target price on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. UBS Group reiterated a “buy” rating and set a $160.00 price objective on shares of Newmont in a report on Friday, January 30th. Royal Bank Of Canada boosted their price objective on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $132.88.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Up 0.5%

NYSE:NEM opened at $124.76 on Thursday. The company has a market cap of $135.72 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 1.06 and a beta of 0.40. Newmont Corporation has a twelve month low of $41.23 and a twelve month high of $134.88. The business has a 50 day moving average price of $114.64 and a two-hundred day moving average price of $94.32. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio is 15.65%.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.