California Public Employees Retirement System boosted its holdings in shares of Newmont Mining Corp (NYSE:NEM) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,496,467 shares of the basic materials company’s stock after buying an additional 48,670 shares during the quarter. California Public Employees Retirement System owned 0.28% of Newmont Mining worth $56,147,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in NEM. Tiedemann Wealth Management LLC lifted its stake in shares of Newmont Mining by 66.5% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 5,938 shares during the period. Exane Derivatives acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $208,000. Parametrica Management Ltd acquired a new stake in shares of Newmont Mining in the third quarter valued at about $222,000. Tower Bridge Advisors acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $242,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $250,000. 82.30% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $43.00 price target on shares of Newmont Mining in a report 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 report on Tuesday, December 5th. Deutsche Bank cut shares of Newmont Mining from a “buy” rating to a “hold” rating and reduced their target price for the stock from $42.00 to $40.00 in a research report on Tuesday, January 16th. FBR & Co set a $40.00 target price on shares of Newmont Mining and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, BMO Capital Markets restated a “buy” rating and issued a $43.00 price target on shares of Newmont Mining in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.80.
Newmont Mining Corp (NEM) traded down $0.29 during mid-day trading on Tuesday, reaching $38.82. 2,105,908 shares of the company’s stock were exchanged, compared to its average volume of 5,584,926. 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 Corp has a 52 week low of $31.42 and a 52 week high of $42.04. The stock has a market capitalization of $20,858.79, a price-to-earnings ratio of 259.60 and a beta of 0.24.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be issued a $0.14 dividend. This is an increase from Newmont Mining’s previous quarterly dividend of $0.08. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.44%. Newmont Mining’s dividend payout ratio is currently 200.00%.
In other news, EVP Elaine J. Dorward-King sold 10,250 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $36.48, for a total value of $373,920.00. Following the transaction, the executive vice president now owns 71,864 shares in the company, valued at approximately $2,621,598.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $40.23, for a total value of $229,311.00. Following the completion of the transaction, the executive vice president now owns 239,700 shares in the company, valued at approximately $9,643,131. The disclosure for this sale can be found here. Insiders sold a total of 27,700 shares of company stock worth $1,050,806 in the last quarter. 0.32% of the stock is owned by corporate insiders.
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About Newmont Mining
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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