Pullen Investment Management LLC Increases Position in Newmont Corporation $NEM

Pullen Investment Management LLC lifted its position in Newmont Corporation (NYSE:NEM) by 18.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,842 shares of the basic materials company’s stock after acquiring an additional 6,021 shares during the period. Newmont accounts for approximately 2.0% of Pullen Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Pullen Investment Management LLC’s holdings in Newmont were worth $3,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ethos Financial Group LLC purchased a new stake in Newmont during the 4th quarter valued at about $216,000. Signaturefd LLC grew its position in Newmont by 5.3% during the 4th quarter. Signaturefd LLC now owns 19,198 shares of the basic materials company’s stock worth $1,917,000 after purchasing an additional 962 shares during the period. Ascent Group LLC raised its stake in shares of Newmont by 37.1% during the 4th quarter. Ascent Group LLC now owns 23,575 shares of the basic materials company’s stock valued at $2,354,000 after buying an additional 6,378 shares during the last quarter. Accel Wealth Management raised its stake in shares of Newmont by 7.5% during the 4th quarter. Accel Wealth Management now owns 14,443 shares of the basic materials company’s stock valued at $1,442,000 after buying an additional 1,009 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its holdings in shares of Newmont by 13.9% in the 4th quarter. Savvy Advisors Inc. now owns 21,380 shares of the basic materials company’s stock valued at $2,135,000 after buying an additional 2,605 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,394 shares of company stock valued at $2,713,281 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Up 0.1%

Shares of NEM opened at $114.13 on Friday. The firm has a market cap of $123.26 billion, a P/E ratio of 17.86, a PEG ratio of 0.88 and a beta of 0.46. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88. The stock’s 50 day moving average is $116.13 and its two-hundred day moving average is $101.51. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.

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

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 3rd. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. National Bank Financial boosted their price target on Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Citigroup upped their price objective on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial raised their price objective on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Newmont has an average rating of “Buy” and a consensus price target of $133.78.

Newmont Company 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.