Pullen Investment Management LLC Has $1.06 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Pullen Investment Management LLC lowered its stake in Newmont Co. (NYSE:NEM - Free Report) by 28.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,485 shares of the basic materials company's stock after selling 11,067 shares during the period. Pullen Investment Management LLC's holdings in Newmont were worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Norges Bank bought a new stake in shares of Newmont in the 4th quarter worth about $626,074,000. Voloridge Investment Management LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $92,693,000. Capital Research Global Investors grew its position in shares of Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after buying an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $76,281,000. Finally, Invesco Ltd. grew its position in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred 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 in the company, valued at $2,432,790.36. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock worth $328,840 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM traded up $0.21 during midday trading on Wednesday, reaching $52.92. The company's stock had a trading volume of 7,566,849 shares, compared to its average volume of 10,124,783. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $51.17 and a 200 day moving average price of $45.33. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The company has a market cap of $58.90 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm earned $0.55 EPS. On average, equities research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Newmont's payout ratio is currently 22.42%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. TD Securities lowered their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada boosted their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.52.

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.