Bp Plc raised its stake in Newmont Mining Corp (NYSE:NEM) by 548.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 428,000 shares of the basic materials company’s stock after purchasing an additional 362,000 shares during the quarter. Bp Plc owned 0.08% of Newmont Mining worth $14,826,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Newmont Mining by 54.1% in the second quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after buying an additional 2,598,995 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Newmont Mining by 245.0% in the second quarter. Advisors Asset Management Inc. now owns 12,394 shares of the basic materials company’s stock valued at $467,000 after buying an additional 8,802 shares during the period. First Manhattan Co. boosted its holdings in shares of Newmont Mining by 10.1% in the third quarter. First Manhattan Co. now owns 165,123 shares of the basic materials company’s stock valued at $4,986,000 after buying an additional 15,136 shares during the period. First Hawaiian Bank acquired a new position in shares of Newmont Mining in the third quarter valued at approximately $434,000. Finally, Oakbrook Investments LLC boosted its holdings in shares of Newmont Mining by 65.3% in the third quarter. Oakbrook Investments LLC now owns 61,887 shares of the basic materials company’s stock valued at $1,869,000 after buying an additional 24,450 shares during the period. Institutional investors own 84.62% of the company’s stock.
Several research firms have recently weighed in on NEM. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday. ValuEngine cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Credit Suisse Group restated a “buy” rating on shares of Newmont Mining in a report on Wednesday, January 16th. B. Riley restated a “neutral” rating on shares of Newmont Mining in a report on Tuesday, January 15th. Finally, Raymond James increased their target price on shares of Newmont Mining from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $41.31.
In other Newmont Mining news, EVP Stephen P. Gottesfeld sold 3,500 shares of the stock in a transaction on Friday, January 11th. The shares were sold at an average price of $35.03, for a total value of $122,605.00. Following the completion of the sale, the executive vice president now owns 160,764 shares in the company, valued at $5,631,562.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total transaction of $98,640.00. Following the completion of the sale, the executive vice president now owns 96,831 shares of the company’s stock, valued at approximately $3,183,803.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,750 shares of company stock valued at $1,113,450. Corporate insiders own 0.36% of the company’s stock.
Shares of NEM stock opened at $33.23 on Thursday. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 22.76 and a beta of 0.05. 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 Corp has a one year low of $29.06 and a one year high of $41.98.
About Newmont Mining
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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