Investors Sell Shares of Newmont Mining (NEM) on Strength (NEM)

Traders sold shares of Newmont Mining Corp (NYSE:NEM) on strength during trading on Wednesday. $26.19 million flowed into the stock on the tick-up and $38.40 million flowed out of the stock on the tick-down, for a money net flow of $12.21 million out of the stock. Of all companies tracked, Newmont Mining had the 0th highest net out-flow for the day. Newmont Mining traded up $0.57 for the day and closed at $33.79

NEM has been the topic of several analyst reports. 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 report 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 report on Monday, September 17th. BMO Capital Markets reissued a “buy” rating and set a $46.00 target price on shares of Newmont Mining in a research report on Friday, September 21st. Deutsche Bank set a $37.00 target price on shares of Newmont Mining and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, TheStreet downgraded Newmont Mining from a “b-” rating to a “c” rating in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.33.

The stock has a market cap of $18.00 billion, a PE ratio of 23.14 and a beta of 0.27. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36.

Newmont Mining (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.11. The company 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 predict that Newmont Mining Corp will post 1.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s dividend payout ratio is currently 38.36%.

In related news, 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 transaction of $90,600.00. Following the sale, the executive vice president now directly owns 102,831 shares of the company’s stock, valued at $3,105,496.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary J. Goldberg sold 4,000 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 $120,800.00. Following the sale, the insider now directly owns 138,533 shares in the company, valued at $4,183,696.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,750 shares of company stock worth $969,548. 0.36% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Cabot Wealth Management Inc. grew its position in Newmont Mining by 0.8% during the second quarter. Cabot Wealth Management Inc. now owns 173,058 shares of the basic materials company’s stock worth $6,526,000 after buying an additional 1,403 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Newmont Mining by 1.7% during the second quarter. Oppenheimer & Co. Inc. now owns 90,897 shares of the basic materials company’s stock worth $3,429,000 after buying an additional 1,485 shares in the last quarter. First Quadrant L P CA grew its position in Newmont Mining by 11.6% during the third quarter. First Quadrant L P CA now owns 15,453 shares of the basic materials company’s stock worth $467,000 after buying an additional 1,607 shares in the last quarter. Twin Capital Management Inc. grew its position in Newmont Mining by 1.0% during the second quarter. Twin Capital Management Inc. now owns 169,820 shares of the basic materials company’s stock worth $6,404,000 after buying an additional 1,610 shares in the last quarter. Finally, GWM Advisors LLC grew its position in Newmont Mining by 16.3% during the third quarter. GWM Advisors LLC now owns 12,100 shares of the basic materials company’s stock worth $365,000 after buying an additional 1,700 shares in the last quarter. 83.98% of the stock is currently owned by institutional investors and hedge funds.

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About Newmont Mining (NYSE:NEM)

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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