Ilmarinen Mutual Pension Insurance Co Has $4.54 Million Stock Position in Newmont Co. (NYSE:NEM)

Ilmarinen Mutual Pension Insurance Co boosted its stake in Newmont Co. (NYSE:NEM - Free Report) by 205.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,000 shares of the basic materials company's stock after acquiring an additional 82,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Newmont were worth $4,541,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC bought a new position in Newmont during the 4th quarter worth $38,000. McIlrath & Eck LLC increased its position in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after buying an additional 361 shares during the period. Kestra Investment Management LLC bought a new stake in Newmont in the fourth quarter valued at $43,000. Finally, Assetmark Inc. boosted 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 valued at $47,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NEM shares. Royal Bank of Canada lifted 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. Scotiabank reduced their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. Raymond James lifted their target price on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, TD Securities cut their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $54.09.

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Newmont Trading Up 4.1 %

Shares of NEM traded up $1.84 during midday trading on Wednesday, hitting $46.80. The stock had a trading volume of 7,821,456 shares, compared to its average volume of 9,697,686. 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 firm has a market cap of $52.75 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The business has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $45.09.

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

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 2.14%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's payout ratio is presently 34.13%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

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.