Robinson Value Management Ltd. reduced its holdings in shares of Newmont Mining Corp (NYSE:NEM) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,600 shares of the basic materials company’s stock after selling 2,229 shares during the quarter. Newmont Mining comprises 2.1% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 19th biggest position. Robinson Value Management Ltd.’s holdings in Newmont Mining were worth $2,283,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in NEM. Natixis purchased a new stake in Newmont Mining in the 2nd quarter worth approximately $23,387,000. Janus Henderson Group PLC lifted its stake in Newmont Mining by 6.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock worth $135,716,000 after purchasing an additional 228,782 shares in the last quarter. California Public Employees Retirement System lifted its stake in Newmont Mining by 15.0% in the 2nd quarter. California Public Employees Retirement System now owns 1,600,820 shares of the basic materials company’s stock worth $60,367,000 after purchasing an additional 208,625 shares in the last quarter. AGF Investments Inc. lifted its stake in Newmont Mining by 2.5% in the 2nd quarter. AGF Investments Inc. now owns 166,100 shares of the basic materials company’s stock worth $6,264,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Newmont Mining in the 2nd quarter worth approximately $1,273,000. Institutional investors own 83.14% of the company’s stock.
Shares of NYSE:NEM opened at $32.42 on Monday. The firm has a market capitalization of $17.27 billion, a PE ratio of 22.21 and a beta of 0.22. Newmont Mining Corp has a one year low of $29.06 and a one year high of $42.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.02 and a current ratio of 4.70.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.11. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. Research analysts expect that Newmont Mining Corp will post 1.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s payout ratio is 38.36%.
In related news, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $30.53, for a total transaction of $38,162.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary J. Goldberg sold 4,000 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $31.51, for a total transaction of $126,040.00. Following the transaction, the chief executive officer now directly owns 138,533 shares in the company, valued at approximately $4,365,174.83. The disclosure for this sale can be found here. Insiders sold a total of 21,750 shares of company stock worth $670,690 in the last three months. Insiders own 0.36% of the company’s stock.
NEM has been the topic of several recent analyst reports. Canaccord Genuity set a $40.00 target price on shares of Newmont Mining and gave the stock a “hold” rating in a research note on Tuesday, July 24th. ValuEngine cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Citigroup lowered their target price on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 29th. JPMorgan Chase & Co. lowered their target price on shares of Newmont Mining from $47.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, September 17th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $46.00 target price on shares of Newmont Mining in a research note on Friday, September 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Newmont Mining has an average rating of “Hold” and a consensus price target of $40.64.
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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