Millennium Management LLC Increases Stake in Newmont Mining Co. (NYSE:NEM)

Millennium Management LLC lifted its position in Newmont Mining Co. (NYSE:NEM) by 25.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,497,291 shares of the basic materials company’s stock after purchasing an additional 700,796 shares during the quarter. Millennium Management LLC owned 0.66% of Newmont Mining worth $131,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Newmont Mining by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 231,662 shares of the basic materials company’s stock worth $8,690,000 after purchasing an additional 1,389 shares in the last quarter. Afam Capital Inc. boosted its holdings in shares of Newmont Mining by 1.9% in the 4th quarter. Afam Capital Inc. now owns 75,804 shares of the basic materials company’s stock worth $2,844,000 after purchasing an additional 1,409 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Newmont Mining by 0.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 293,185 shares of the basic materials company’s stock worth $10,997,000 after purchasing an additional 1,662 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Newmont Mining by 3.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 51,280 shares of the basic materials company’s stock worth $1,924,000 after purchasing an additional 1,700 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its holdings in shares of Newmont Mining by 19.6% in the 4th quarter. CIBC World Markets Inc. now owns 11,819 shares of the basic materials company’s stock worth $443,000 after purchasing an additional 1,934 shares in the last quarter. Hedge funds and other institutional investors own 82.28% of the company’s stock.

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In other news, 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 of the company’s stock, valued at approximately $9,643,131. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $39.33, for a total value of $117,990.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,450 shares of company stock valued at $919,544 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

A number of research firms have recently issued reports on NEM. Royal Bank of Canada reiterated a “sell” rating and issued a $44.00 price objective on shares of Newmont Mining in a report on Wednesday. BMO Capital Markets set a $46.00 price objective on Newmont Mining and gave the stock a “buy” rating in a report on Wednesday, March 28th. B. Riley upped their price objective on Newmont Mining from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research lowered Newmont Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 19th. Two 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. The stock presently has an average rating of “Hold” and an average target price of $42.86.

NEM opened at $39.29 on Friday. The company has a market cap of $20,800.18, a price-to-earnings ratio of 26.91 and a beta of 0.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.63 and a quick ratio of 3.14. Newmont Mining Co. has a one year low of $31.42 and a one year high of $42.04.

Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. Newmont Mining’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. equities research analysts forecast that Newmont Mining Co. will post 1.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were given a dividend of $0.14 per share. This is a positive change from Newmont Mining’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. Newmont Mining’s dividend payout ratio is presently 38.36%.

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Newmont Mining Company 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.

Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

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