Systematic Financial Management LP trimmed its stake in Newmont Mining Co. (NYSE:NEM) by 60.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 176,479 shares of the basic materials company’s stock after selling 264,681 shares during the period. Systematic Financial Management LP’s holdings in Newmont Mining were worth $6,895,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in NEM. BlackRock Inc. grew its holdings in shares of Newmont Mining by 6.1% during the fourth 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 during the last quarter. Flossbach Von Storch AG grew its holdings in shares of Newmont Mining by 16.8% during the first quarter. Flossbach Von Storch AG now owns 9,930,898 shares of the basic materials company’s stock worth $388,000,000 after purchasing an additional 1,430,627 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Newmont Mining by 115.5% during the first quarter. First Eagle Investment Management LLC now owns 9,584,767 shares of the basic materials company’s stock worth $374,477,000 after purchasing an additional 5,137,612 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Newmont Mining by 6.9% during the fourth 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 during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Newmont Mining by 2.5% during the first quarter. Swiss National Bank now owns 4,871,232 shares of the basic materials company’s stock worth $190,319,000 after purchasing an additional 120,200 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Shares of Newmont Mining opened at $39.59 on Thursday, according to MarketBeat.com. The company has a current ratio of 4.18, a quick ratio of 3.62 and a debt-to-equity ratio of 0.35. Newmont Mining Co. has a 12-month low of $31.42 and a 12-month high of $42.04. The firm has a market cap of $20.69 billion, a PE ratio of 27.12 and a beta of 0.29.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Newmont Mining had a return on equity of 7.01% and a net margin of 0.64%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. research analysts anticipate that Newmont Mining Co. will post 1.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Wednesday, June 6th. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $38.06, for a total transaction of $47,575.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were 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 20,500 shares of company stock worth $794,165 in the last ninety days. 0.36% of the stock is currently owned by insiders.
Several analysts have recently commented on NEM shares. BMO Capital Markets set a $46.00 target price on Newmont Mining and gave the stock a “buy” rating in a report on Wednesday, March 28th. Deutsche Bank increased their target price on Newmont Mining from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, April 11th. Citigroup increased their target price on Newmont Mining from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 1st. Scotiabank restated a “buy” rating and set a $49.00 target price on shares of Newmont Mining in a report on Thursday, March 1st. Finally, Royal Bank of Canada restated a “sell” rating and set a $44.00 target price on shares of Newmont Mining in a report on Wednesday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Newmont Mining has a consensus rating of “Hold” and a consensus target price of $42.93.
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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