Meadow Creek Investment Management LLC increased its holdings in Newmont Mining Corp (NYSE:NEM) by 463.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 110,516 shares of the basic materials company’s stock after acquiring an additional 90,888 shares during the period. Meadow Creek Investment Management LLC’s holdings in Newmont Mining were worth $4,147,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of NEM. BlackRock Inc. grew its position in Newmont Mining by 6.1% in the fourth quarter. BlackRock Inc. now owns 77,637,045 shares of the basic materials company’s stock worth $2,912,946,000 after acquiring an additional 4,440,876 shares during the period. Alliancebernstein L.P. grew its position in Newmont Mining by 120.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,386,160 shares of the basic materials company’s stock worth $89,529,000 after acquiring an additional 1,306,175 shares during the period. Global Thematic Partners LLC grew its position in Newmont Mining by 44.2% in the fourth quarter. Global Thematic Partners LLC now owns 4,103,076 shares of the basic materials company’s stock worth $153,947,000 after acquiring an additional 1,258,566 shares during the period. Bank of New York Mellon Corp grew its position in Newmont Mining by 12.2% in the third quarter. Bank of New York Mellon Corp now owns 10,596,020 shares of the basic materials company’s stock worth $397,458,000 after acquiring an additional 1,150,995 shares during the period. Finally, Carmignac Gestion grew its position in Newmont Mining by 8.0% in the third quarter. Carmignac Gestion now owns 15,346,347 shares of the basic materials company’s stock worth $575,641,000 after acquiring an additional 1,141,466 shares during the period. Institutional investors own 82.31% of the company’s stock.
In other Newmont Mining news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $37.89, for a total value of $37,890.00. Following the sale, the insider now directly owns 156,096 shares in the company, valued at $5,914,477.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total value of $229,311.00. Following the completion of the sale, the executive vice president now owns 239,700 shares in the company, valued at $9,643,131. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,700 shares of company stock worth $1,242,786. Insiders own 0.32% of the company’s stock.
Shares of Newmont Mining Corp (NYSE:NEM) opened at $37.31 on Friday. The stock has a market capitalization of $20,373.40, a price-to-earnings ratio of -207.27 and a beta of 0.29. The company has a quick ratio of 3.14, a current ratio of 3.63 and a debt-to-equity ratio of 0.35. Newmont Mining Corp has a 52 week low of $31.42 and a 52 week high of $42.04.
Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. analysts anticipate that Newmont Mining Corp will post 1.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a $0.14 dividend. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. This represents a $0.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, March 7th. Newmont Mining’s dividend payout ratio (DPR) is presently -311.09%.
Several brokerages recently weighed in on NEM. TheStreet lowered Newmont Mining from a “b-” rating to a “c+” rating in a research report on Monday. B. Riley increased their price objective on Newmont Mining from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. ValuEngine upgraded Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Citigroup upped their price target on Newmont Mining from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 1st. Finally, Scotiabank restated a “buy” rating and set a $49.00 price target on shares of Newmont Mining in a research note on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.57.
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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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