Meadow Creek Investment Management LLC increased its position in shares of Newmont Mining Co. (NYSE:NEM) by 463.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,516 shares of the basic materials company’s stock after buying an additional 90,888 shares during the quarter. 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 hedge funds have also recently bought and sold shares of NEM. BlackRock Inc. increased its holdings in Newmont Mining by 6.1% during the 4th quarter. BlackRock Inc. now owns 77,637,045 shares of the basic materials company’s stock worth $2,912,946,000 after purchasing an additional 4,440,876 shares in the last quarter. Carmignac Gestion increased its holdings in Newmont Mining by 8.0% during the 3rd quarter. Carmignac Gestion now owns 15,346,347 shares of the basic materials company’s stock worth $575,641,000 after purchasing an additional 1,141,466 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Newmont Mining by 12.2% during the 3rd 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 purchasing an additional 1,150,995 shares in the last quarter. Flossbach Von Storch AG increased its holdings in Newmont Mining by 5.3% during the 4th quarter. Flossbach Von Storch AG now owns 8,500,271 shares of the basic materials company’s stock worth $318,930,000 after purchasing an additional 428,150 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Newmont Mining by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 6,378,102 shares of the basic materials company’s stock worth $238,856,000 after purchasing an additional 410,435 shares in the last quarter. 82.28% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on NEM. TheStreet lowered Newmont Mining from a “b-” rating to a “c+” rating in a report on Monday, March 12th. Scotiabank set a $48.00 price objective on Newmont Mining and gave the stock a “buy” rating in a report on Monday, January 15th. BMO Capital Markets reissued a “buy” rating and set a $43.00 price objective on shares of Newmont Mining in a report on Wednesday, December 20th. Deutsche Bank lowered Newmont Mining from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $42.00 to $40.00 in a report on Tuesday, January 16th. Finally, Zacks Investment Research lowered Newmont Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.86.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $40.23, for a total transaction of $50,287.50. Following the completion of the transaction, the chief operating officer now directly owns 83,112 shares of the company’s stock, valued at $3,343,595.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the 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 transaction, the executive vice president now directly owns 239,700 shares of the company’s stock, valued at $9,643,131. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,450 shares of company stock valued at $919,544. 0.36% of the stock is owned by corporate insiders.
Shares of NEM stock traded up $0.02 during trading on Friday, hitting $39.29. The company’s 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 PE ratio of 26.91 and a beta of 0.25. 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 Co. 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 for the quarter, meeting the consensus estimate of $0.40. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company earned $0.25 earnings per share. Newmont Mining’s revenue was up 8.2% compared to the same quarter last year. research analysts expect that Newmont Mining Co. will post 1.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.43%. This is a positive change from Newmont Mining’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 7th. Newmont Mining’s dividend payout ratio is 38.36%.
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Newmont Mining Profile
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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