Newmont Corporation $NEM Shares Acquired by Pullen Investment Management LLC

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

Several other large investors have also recently made changes to their positions in NEM. GoalVest Advisory LLC acquired a new position in Newmont in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. boosted its stake in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont during the 3rd quarter worth $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth $28,000. Finally, Capital A Wealth Management LLC raised its position in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Up 0.1%

Shares of Newmont stock opened at $114.13 on Friday. The firm has a market capitalization of $123.26 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 0.88 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $42.93 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a 50 day moving average of $116.13 and a 200 day moving average of $101.51.

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

Newmont Increases Dividend

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

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. National Bank Financial upped their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Jefferies Financial Group raised their target price on shares of Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Stifel Nicolaus upped their price target on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of $133.78.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the 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 represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,394 shares of company stock valued at $2,713,281. Company insiders own 0.05% of the company’s stock.

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.