Pictet Asset Management Ltd. decreased its position in Newmont Mining Corp (NYSE:NEM) by 42.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,401 shares of the basic materials company’s stock after selling 237,455 shares during the period. Pictet Asset Management Ltd. owned 0.06% of Newmont Mining worth $9,616,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC grew its stake in shares of Newmont Mining by 22.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 11,705,007 shares of the basic materials company’s stock valued at $353,491,000 after buying an additional 2,153,531 shares during the period. Schroder Investment Management Group grew its stake in shares of Newmont Mining by 92.7% in the 3rd quarter. Schroder Investment Management Group now owns 371,879 shares of the basic materials company’s stock valued at $11,231,000 after buying an additional 178,944 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Newmont Mining by 37.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 510,721 shares of the basic materials company’s stock valued at $15,970,000 after buying an additional 137,816 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Newmont Mining by 10.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,149 shares of the basic materials company’s stock valued at $10,001,000 after buying an additional 32,561 shares during the period. Finally, FMR LLC grew its stake in shares of Newmont Mining by 31.9% in the 3rd quarter. FMR LLC now owns 9,763,576 shares of the basic materials company’s stock valued at $294,860,000 after buying an additional 2,359,109 shares during the period. 83.98% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on NEM shares. Barclays started coverage on shares of Newmont Mining in a research report on Wednesday, October 10th. They set an “overweight” rating and a $34.00 price objective for the company. Citigroup lowered their price objective on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. 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 increased their price objective on shares of Newmont Mining from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 9th. 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.27.
In other Newmont Mining news, CFO Nancy Buese sold 2,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total transaction of $65,760.00. Following 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 SEC, which is available through this link. Also, insider Thomas Ronald Palmer sold 1,250 shares of the 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 sale, the insider now owns 129,110 shares in the company, valued at $4,245,136.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,750 shares of company stock worth $969,548. 0.36% of the stock is owned by company insiders.
NYSE:NEM opened at $33.39 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.70 and a quick ratio of 4.02. The company has a market cap of $17.40 billion, a P/E ratio of 22.87 and a beta of 0.27. Newmont Mining Corp has a fifty-two week low of $29.06 and a fifty-two week high of $42.04.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.11. The firm 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 analysts forecast that Newmont Mining Corp will post 1.23 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.68%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.
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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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