State Treasurer State of Michigan decreased its holdings in shares of Newmont Mining Corporation (NYSE:NEM) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,855 shares of the basic materials company’s stock after selling 13,400 shares during the quarter. State Treasurer State of Michigan’s holdings in Newmont Mining Corporation were worth $6,071,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Smith Affiliated Capital Corp. increased its stake in shares of Newmont Mining Corporation by 8.6% during the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 300 shares during the last quarter. Sun Life Financial INC boosted its holdings in shares of Newmont Mining Corporation by 43,144.4% during the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock worth $126,000 after buying an additional 3,883 shares during the period. Brighton Jones LLC bought a new stake in shares of Newmont Mining Corporation during the 1st quarter worth $258,000. Banced Corp boosted its holdings in shares of Newmont Mining Corporation by 15.3% during the 2nd quarter. Banced Corp now owns 8,473 shares of the basic materials company’s stock worth $274,000 after buying an additional 1,126 shares during the period. Finally, Veritable L.P. boosted its holdings in shares of Newmont Mining Corporation by 4.6% during the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock worth $274,000 after buying an additional 370 shares during the period. Institutional investors own 80.09% of the company’s stock.
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In related news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.60, for a total transaction of $38,600.00. Following the completion of the sale, the insider now owns 334,730 shares in the company, valued at approximately $12,920,578. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $45,550.00. Following the sale, the chief operating officer now owns 86,862 shares of the company’s stock, valued at approximately $3,165,251.28. The disclosure for this sale can be found here. Insiders have sold a total of 27,700 shares of company stock valued at $1,042,103 over the last ninety days. 0.32% of the stock is owned by insiders.
Newmont Mining Corporation (NYSE:NEM) traded down $0.36 during trading hours on Friday, hitting $35.52. 4,663,100 shares of the stock were exchanged, compared to its average volume of 5,487,490. The company has a market cap of $19,136.11, a P/E ratio of 25.81 and a beta of 0.11. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $39.63. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33.
Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. equities research analysts predict that Newmont Mining Corporation will post 1.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, December 7th. Newmont Mining Corporation’s payout ratio is 200.00%.
Several analysts recently issued reports on NEM shares. Zacks Investment Research raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 18th. Royal Bank of Canada set a $41.00 price objective on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, August 28th. TheStreet raised shares of Newmont Mining Corporation from a “c+” rating to a “b” rating in a report on Wednesday, October 11th. Credit Suisse Group set a $45.00 price objective on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, TD Securities upped their price objective on shares of Newmont Mining Corporation from $36.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $40.50.
Newmont Mining Corporation Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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