Dai Ichi Life Insurance Company Ltd Increases Holdings in Newmont Mining Corp (NEM)
Dai Ichi Life Insurance Company Ltd grew its position in shares of Newmont Mining Corp (NYSE:NEM) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,708 shares of the basic materials company’s stock after buying an additional 62,067 shares during the period. Dai Ichi Life Insurance Company Ltd owned approximately 0.06% of Newmont Mining worth $11,842,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Sun Life Financial INC increased its position in Newmont Mining by 43,144.4% during the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock worth $126,000 after buying an additional 3,883 shares during the period. Parametrica Management Ltd bought a new position in Newmont Mining during the 3rd quarter worth $222,000. Timber Hill LLC bought a new position in Newmont Mining during the 3rd quarter worth $260,000. Veritable L.P. increased its position in Newmont Mining by 4.6% during the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock worth $274,000 after buying an additional 370 shares during the period. Finally, Creative Planning increased its position in shares of Newmont Mining by 22.3% in the second quarter. Creative Planning now owns 8,761 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 1,598 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.
NEM has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $41.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Monday, August 28th. B. Riley restated a “neutral” rating on shares of Newmont Mining in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, July 31st. BidaskClub cut Newmont Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, BMO Capital Markets set a $40.00 target price on Newmont Mining and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $40.83.
In other news, EVP Elaine J. Dorward-King sold 10,250 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total transaction of $392,267.50. Following the completion of the sale, the executive vice president now owns 82,114 shares in the company, valued at $3,142,502.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.60, for a total value of $38,600.00. Following the sale, the insider now owns 334,730 shares of the company’s stock, valued at approximately $12,920,578. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,700 shares of company stock valued at $1,042,103. 0.32% of the stock is currently owned by corporate insiders.
Newmont Mining Corp (NYSE:NEM) traded down $0.03 during trading on Monday, hitting $36.68. The company had a trading volume of 1,705,500 shares, compared to its average volume of 5,412,473. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18. The firm has a market capitalization of $19,562.76, a price-to-earnings ratio of 26.39 and a beta of 0.11. Newmont Mining Corp has a one year low of $30.40 and a one year high of $39.63.
Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining had a return on equity of 6.20% and a net margin of 1.18%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. analysts predict that Newmont Mining Corp will post 1.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.30 dividend on an annualized basis and a yield of 0.82%. Newmont Mining’s payout ratio is currently 200.00%.
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About Newmont Mining
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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