Ilmarinen Mutual Pension Insurance Co Grows Position in Newmont Co. (NYSE:NEM)

Ilmarinen Mutual Pension Insurance Co grew its stake in Newmont Co. (NYSE:NEM) by 205.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,000 shares of the basic materials company’s stock after buying an additional 82,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Newmont were worth $4,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC lifted its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Promus Capital LLC acquired a new stake in Newmont during the 4th quarter valued at approximately $38,000. McIlrath & Eck LLC boosted its holdings in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Newmont in the fourth quarter worth $43,000. Finally, Assetmark Inc. raised its holdings in shares of Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 820 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM opened at $44.25 on Friday. 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 stock’s 50 day moving average is $45.34 and its two-hundred day moving average is $45.28. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The firm has a market capitalization of $49.88 billion, a PE ratio of 15.10, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Insider Buying and Selling at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.09.

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.