Wealthsource Partners LLC bought a new stake in Newmont Mining Corp (NYSE:NEM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,001 shares of the basic materials company’s stock, valued at approximately $302,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in NEM. Natixis purchased a new position in Newmont Mining in the 2nd quarter worth about $23,387,000. Janus Henderson Group PLC increased 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 buying an additional 228,782 shares during the period. California Public Employees Retirement System increased 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 buying an additional 208,625 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Newmont Mining in the 2nd quarter worth about $1,273,000. Finally, AGF Investments Inc. increased 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 buying an additional 4,100 shares during the period. 83.98% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on NEM. ValuEngine downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Zacks Investment Research raised shares of Newmont Mining from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Raymond James raised their target price on shares of Newmont Mining from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, November 9th. Credit Suisse Group set a $49.00 target price on shares of Newmont Mining and gave the company a “buy” rating in a research report on Friday, November 9th. Finally, TD Securities raised their target price on shares of Newmont Mining from $37.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.33.
NYSE:NEM opened at $32.73 on Friday. Newmont Mining Corp has a fifty-two week low of $29.06 and a fifty-two week high of $42.04. The stock has a market capitalization of $18.00 billion, a PE ratio of 22.42 and a beta of 0.27. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36.
Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. As a group, equities research analysts forecast that Newmont Mining Corp will post 1.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.
In related news, CFO Nancy Buese sold 2,000 shares of Newmont Mining stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total value of $65,760.00. Following the completion of the sale, the chief financial officer now directly owns 36,379 shares in the company, valued at approximately $1,196,141.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $32.88, for a total transaction of $41,100.00. Following the completion of the sale, the insider now owns 129,110 shares of the company’s stock, valued at $4,245,136.80. The disclosure for this sale can be found here. Insiders sold a total of 30,750 shares of company stock valued at $969,548 over the last quarter. 0.36% of the stock is owned by company insiders.
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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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