AMP Capital Investors Ltd reduced its position in Newmont Mining Co. (NYSE:NEM) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,582 shares of the basic materials company’s stock after selling 22,340 shares during the period. AMP Capital Investors Ltd’s holdings in Newmont Mining were worth $7,677,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Exane Derivatives purchased a new position in Newmont Mining in the 4th quarter valued at about $208,000. Brown Advisory Inc. acquired a new stake in shares of Newmont Mining in the 4th quarter valued at about $228,000. Tower Bridge Advisors acquired a new stake in shares of Newmont Mining in the 4th quarter valued at about $242,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont Mining in the 4th quarter valued at about $250,000. Finally, Timber Hill LLC acquired a new stake in shares of Newmont Mining in the 3rd quarter valued at about $260,000. 82.28% of the stock is owned by institutional investors.
Newmont Mining stock traded up $0.02 during midday trading 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. Newmont Mining Co. has a twelve month low of $31.42 and a twelve month high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.63. The firm has a market capitalization of $20,960.23, a price-to-earnings ratio of 26.91 and a beta of 0.25.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $1.94 billion during 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 quarter last year, the business posted $0.25 EPS. equities analysts forecast that Newmont Mining Co. will post 1.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Newmont Mining’s previous quarterly dividend of $0.08. Newmont Mining’s dividend payout ratio (DPR) is currently 38.36%.
In related news, 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 transaction, the executive vice president now directly owns 239,700 shares in the company, valued at approximately $9,643,131. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the firm’s stock in a transaction 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. Insiders have sold a total of 23,450 shares of company stock worth $919,544 in the last 90 days. 0.36% of the stock is owned by insiders.
Several equities research analysts have commented on NEM shares. Royal Bank of Canada restated a “sell” rating and issued a $44.00 price target on shares of Newmont Mining in a research note on Wednesday. BMO Capital Markets set a $46.00 price target on shares of Newmont Mining and gave the company a “buy” rating in a research note on Wednesday, March 28th. TheStreet lowered shares of Newmont Mining from a “b-” rating to a “c+” rating in a research note on Monday, March 12th. Scotiabank reiterated a “buy” rating and issued a $49.00 price objective on shares of Newmont Mining in a report on Thursday, March 1st. Finally, ValuEngine upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target 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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