Flossbach Von Storch AG raised its holdings in Newmont Mining Corp (NYSE:NEM) by 32.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,529,462 shares of the basic materials company’s stock after purchasing an additional 3,339,775 shares during the quarter. Newmont Mining accounts for approximately 3.7% of Flossbach Von Storch AG’s investment portfolio, making the stock its 10th biggest position. Flossbach Von Storch AG owned about 2.54% of Newmont Mining worth $408,590,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Natixis acquired a new stake in shares of Newmont Mining in the 2nd quarter valued at $23,387,000. Janus Henderson Group PLC boosted its holdings in shares of Newmont Mining by 6.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock valued at $135,716,000 after acquiring an additional 228,782 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Newmont Mining by 15.0% during the 2nd quarter. California Public Employees Retirement System now owns 1,600,820 shares of the basic materials company’s stock valued at $60,367,000 after acquiring an additional 208,625 shares in the last quarter. AGF Investments Inc. boosted its holdings in shares of Newmont Mining by 2.5% during the 2nd quarter. AGF Investments Inc. now owns 166,100 shares of the basic materials company’s stock valued at $6,264,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Newmont Mining during the 2nd quarter valued at $1,273,000. 83.14% of the stock is currently owned by hedge funds and other institutional investors.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $37,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of Newmont Mining stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total value of $90,600.00. Following the transaction, the executive vice president now directly owns 102,831 shares in the company, valued at $3,105,496.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,750 shares of company stock worth $670,690 over the last ninety days. Company insiders own 0.36% of the company’s stock.
Shares of NEM opened at $32.31 on Wednesday. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of 22.13 and a beta of 0.22. Newmont Mining Corp has a 12 month low of $29.06 and a 12 month 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 announced its earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.11. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.80 billion. Newmont Mining had a positive return on equity of 6.19% and a negative net margin of 2.63%. On average, equities research analysts forecast that Newmont Mining Corp will post 1.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s payout ratio is presently 38.36%.
Several equities research analysts recently weighed in on NEM shares. Barclays started coverage on Newmont Mining in a report on Wednesday, October 10th. They set an “overweight” rating and a $34.00 price objective on the stock. Citigroup cut their price objective on Newmont Mining from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, August 29th. Canaccord Genuity set a $40.00 price objective on Newmont Mining and gave the company a “hold” rating in a report on Tuesday, July 24th. Raymond James cut their price objective on Newmont Mining from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Finally, Zacks Investment Research downgraded Newmont Mining from a “hold” rating to a “strong sell” rating in a report on Monday, October 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.64.
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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.
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