Guggenheim Capital LLC trimmed its stake in shares of Newmont Mining Co. (NYSE:NEM) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,366,703 shares of the basic materials company’s stock after selling 95,234 shares during the period. Guggenheim Capital LLC owned 0.26% of Newmont Mining worth $51,281,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of NEM. Tiedemann Wealth Management LLC increased its position in shares of Newmont Mining by 66.5% during the third quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock valued at $170,000 after acquiring an additional 5,938 shares during the last quarter. Exane Derivatives acquired a new position in shares of Newmont Mining in the fourth quarter valued at approximately $208,000. Brown Advisory Inc. acquired a new position in shares of Newmont Mining in the fourth quarter valued at approximately $228,000. Tower Bridge Advisors acquired a new position in shares of Newmont Mining in the fourth quarter valued at approximately $242,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Newmont Mining in the fourth quarter valued at approximately $250,000. 82.28% of the stock is currently owned by hedge funds and other institutional investors.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.44, for a total value of $49,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.33, for a total transaction of $117,990.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,450 shares of company stock valued at $919,544. Corporate insiders own 0.36% of the company’s stock.
NYSE:NEM traded up $0.02 on Friday, reaching $39.29. The stock had a trading volume of 4,107,026 shares, compared to its average volume of 4,853,281. The firm has a market cap of $20,949.55, a price-to-earnings ratio of 26.91 and a beta of 0.25. Newmont Mining Co. has a 12-month low of $31.42 and a 12-month high of $42.04. The company has a current ratio of 3.63, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35.
Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. Newmont Mining had a negative net margin of 1.33% and a positive return on equity of 6.52%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. equities research analysts forecast that Newmont Mining Co. will post 1.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Thursday, March 8th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 7th. This is an increase from Newmont Mining’s previous quarterly dividend of $0.08. Newmont Mining’s dividend payout ratio is 38.36%.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sell” rating and issued a $44.00 price target on shares of Newmont Mining in a research note on Wednesday. Citigroup boosted their price objective on shares of Newmont Mining from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Friday, February 9th. B. Riley upped their price target on shares of Newmont Mining from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets set a $46.00 price target on shares of Newmont Mining and gave the company a “buy” rating in a research report on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $42.86.
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About Newmont Mining
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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