Mirae Asset Global Investments Co. Ltd. raised its holdings in Newmont Mining Corp (NYSE:NEM) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 139,830 shares of the basic materials company’s stock after acquiring an additional 45,253 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Newmont Mining were worth $4,221,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis acquired a new position in Newmont Mining in the 2nd quarter valued at approximately $23,387,000. Janus Henderson Group PLC increased its position 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 valued at $135,716,000 after acquiring an additional 228,782 shares during the period. California Public Employees Retirement System increased its position 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 valued at $60,367,000 after acquiring an additional 208,625 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Newmont Mining in the 2nd quarter valued at approximately $1,273,000. Finally, AGF Investments Inc. increased its position 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 valued at $6,264,000 after acquiring an additional 4,100 shares during the period. Hedge funds and other institutional investors own 83.98% of the company’s stock.
NEM opened at $33.39 on Friday. Newmont Mining Corp has a twelve month low of $29.06 and a twelve month high of $42.04. The company has a quick ratio of 4.02, a current ratio of 4.70 and a debt-to-equity ratio of 0.36. The firm has a market cap of $17.40 billion, a PE ratio of 22.87 and a beta of 0.27.
Newmont Mining (NYSE:NEM) last posted its quarterly 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 business 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, research analysts anticipate that Newmont Mining Corp will post 1.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders 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 yield of 1.68%. The ex-dividend date is Wednesday, December 5th. Newmont Mining’s payout ratio is 38.36%.
Several equities research analysts have recently weighed in on the stock. Raymond James set a $46.00 price objective on shares of Newmont Mining and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank set a $36.00 price objective on shares of Newmont Mining and gave the stock a “hold” rating in a research report on Friday. ValuEngine cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Zacks Investment Research upgraded shares of Newmont Mining from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Finally, Credit Suisse Group set a $49.00 price objective on shares of Newmont Mining and gave the stock a “buy” rating in a research report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Newmont Mining has a consensus rating of “Hold” and a consensus target price of $41.27.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $37,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nancy Buese sold 2,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $32.88, for a total transaction of $65,760.00. Following the completion of the sale, the chief financial officer now owns 36,379 shares of the company’s stock, valued at $1,196,141.52. The disclosure for this sale can be found here. Insiders sold 30,750 shares of company stock valued at $969,548 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
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Newmont Mining 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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