AMP Capital Investors Ltd trimmed its position in Newmont Mining Corp (NYSE:NEM) by 19.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,922 shares of the basic materials company’s stock after selling 54,661 shares during the period. AMP Capital Investors Ltd’s holdings in Newmont Mining were worth $8,512,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC boosted its stake in Newmont Mining by 43,144.4% in the second quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 3,883 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Newmont Mining in the third quarter valued at approximately $222,000. Timber Hill LLC acquired a new stake in Newmont Mining in the third quarter valued at approximately $260,000. Veritable L.P. boosted its stake in Newmont Mining by 4.6% in the second quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 370 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC boosted its stake in Newmont Mining by 43.7% in the second quarter. Gyroscope Capital Management Group LLC now owns 9,910 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 3,012 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.
Newmont Mining Corp (NYSE:NEM) traded down $0.08 during midday trading on Wednesday, hitting $34.59. 6,461,200 shares of the company’s stock were exchanged, compared to its average volume of 5,423,102. The stock has a market capitalization of $18,490.78, a PE ratio of 24.94 and a beta of 0.10. Newmont Mining Corp has a fifty-two week low of $30.40 and a fifty-two week high of $39.63. The company has a current ratio of 4.18, a quick ratio of 3.58 and a debt-to-equity ratio of 0.33.
Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts forecast that Newmont Mining Corp will post 1.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.87%. Newmont Mining’s dividend payout ratio (DPR) is presently 200.00%.
In related news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total transaction of $207,708.00. Following the completion of the transaction, the executive vice president now owns 122,178 shares of the company’s stock, valued at $4,452,166.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total transaction of $392,267.50. Following the transaction, the executive vice president now directly owns 82,114 shares of the company’s stock, valued at approximately $3,142,502.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,700 shares of company stock valued at $1,038,458. 0.32% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on the stock. Royal Bank of Canada restated a “hold” rating and issued a $43.00 target price on shares of Newmont Mining in a research note on Tuesday, December 5th. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research note on Tuesday, December 5th. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c” rating in a report on Friday, November 17th. BMO Capital Markets set a $45.00 price target on shares of Newmont Mining and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Newmont Mining in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Newmont Mining currently has a consensus rating of “Buy” and a consensus target price of $42.74.
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Newmont Mining 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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