Pullen Investment Management LLC Buys 4,444 Shares of Newmont Co. (NYSE:NEM)

Pullen Investment Management LLC grew its stake in Newmont Co. (NYSE:NEM - Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,929 shares of the basic materials company's stock after buying an additional 4,444 shares during the quarter. Pullen Investment Management LLC's holdings in Newmont were worth $1,590,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Newmont in the fourth quarter worth $626,074,000. Northern Trust Corp raised its position in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Amundi raised its position in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the period. Finally, Invesco Ltd. lifted its stake 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 in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM traded up $1.95 during mid-day trading on Friday, hitting $57.87. 19,673,056 shares of the company's stock traded hands, compared to its average volume of 10,351,984. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company's 50-day moving average is $53.00 and its two-hundred day moving average is $46.38. The company has a market capitalization of $64.41 billion, a P/E ratio of 19.75, a PEG ratio of 0.41 and a beta of 0.31.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the transaction, the director now directly owns 47,257 shares in the company, valued at $2,432,790.36. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $381,539 in the last three months. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on NEM. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Raymond James reissued an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.68.

About Newmont

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.