GAM Holding AG Cuts Holdings in Newmont Mining Corp (NEM)
GAM Holding AG decreased its position in Newmont Mining Corp (NYSE:NEM) by 60.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 193,271 shares of the basic materials company’s stock after selling 301,406 shares during the period. GAM Holding AG’s holdings in Newmont Mining were worth $7,288,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Mount Yale Investment Advisors LLC bought a new stake in shares of Newmont Mining during the 1st quarter worth approximately $115,000. Private Capital Group LLC raised its stake in shares of Newmont Mining by 177.0% during the 1st quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,935 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of Newmont Mining by 4,127.4% during the 1st quarter. Summit Trail Advisors LLC now owns 127,624 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 124,605 shares in the last quarter. Signaturefd LLC bought a new stake in shares of Newmont Mining during the 1st quarter worth approximately $152,000. Finally, Stephens Inc. AR bought a new stake in shares of Newmont Mining during the 1st quarter worth approximately $219,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.
NEM stock opened at $32.03 on Friday. The company has a current ratio of 4.60, a quick ratio of 3.95 and a debt-to-equity ratio of 0.35. The company has a market cap of $17.24 billion, a P/E ratio of 23.76 and a beta of 0.21. Newmont Mining Corp has a 1-year low of $31.45 and a 1-year high of $42.04.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Wednesday, September 12th. Newmont Mining’s payout ratio is presently 38.36%.
A number of equities research analysts have recently issued reports on the company. ValuEngine cut Newmont Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Canaccord Genuity set a $40.00 price objective on Newmont Mining and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Finally, Morgan Stanley upgraded Newmont Mining from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.18.
In related news, insider Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $38.88, for a total transaction of $155,520.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $38.58, for a total value of $135,030.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,750 shares of company stock worth $1,082,190 over the last three months. 0.36% of the stock is owned by insiders.
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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