Muhlenkamp & Co. Inc. Raises Holdings in Newmont Co. (NYSE:NEM)

Muhlenkamp & Co. Inc. lifted its stake in Newmont Co. (NYSE:NEM) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,103 shares of the basic materials company’s stock after acquiring an additional 801 shares during the period. Newmont accounts for 3.2% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 19th largest position. Muhlenkamp & Co. Inc.’s holdings in Newmont were worth $10,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. HHM Wealth Advisors LLC boosted its stake in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC purchased a new position in Newmont during the 4th quarter worth $38,000. McIlrath & Eck LLC increased its position in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Newmont in the fourth quarter valued at about $43,000. Finally, Assetmark Inc. boosted its holdings in Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was 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 $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. Company insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NEM shares. TD Securities decreased 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 raised their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, Raymond James boosted their price target on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.09.

Newmont Stock Performance

NEM opened at $44.83 on Tuesday. The firm has a fifty day moving average price of $45.41 and a 200 day moving average price of $45.16. Newmont Co. has a 1 year low of $36.60 and a 1 year high of $58.72. The stock has a market cap of $50.54 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping 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. Equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.23%. Newmont’s dividend payout ratio is currently 34.13%.

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.