Newmont Mining Corp (NEM) Holdings Trimmed by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in Newmont Mining Corp (NYSE:NEM) by 41.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,092 shares of the basic materials company’s stock after selling 147,345 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Newmont Mining were worth $7,843,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sun Life Financial INC boosted 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 valued at $126,000 after purchasing an additional 3,883 shares during the period. Parametrica Management Ltd bought a new stake in Newmont Mining during the 3rd quarter valued at $222,000. Timber Hill LLC bought a new stake in Newmont Mining during the 3rd quarter valued at $260,000. Veritable L.P. raised its stake 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 valued at $274,000 after acquiring an additional 370 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC raised its stake in Newmont Mining by 43.7% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 9,910 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 3,012 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.
Newmont Mining Corp (NEM) traded down $0.73 during trading on Tuesday, reaching $34.67. The company’s stock had a trading volume of 7,943,900 shares, compared to its average volume of 5,418,740. 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 cap of $18,880.11, a PE ratio of 25.47 and a beta of 0.10. Newmont Mining Corp has a 12-month low of $30.40 and a 12-month high of $39.63.
Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Newmont Mining had a return on equity of 6.20% and a net margin of 1.18%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts expect that Newmont Mining Corp will post 1.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be given a dividend of $0.075 per share. 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 0.87%. Newmont Mining’s dividend payout ratio (DPR) is presently 200.00%.
Several analysts have weighed in on NEM shares. TheStreet raised Newmont Mining from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $45.00 price objective on Newmont Mining and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, October 18th. Royal Bank of Canada restated a “hold” rating and issued a $43.00 target price on shares of Newmont Mining in a report on Tuesday, December 5th. Finally, FBR & Co set a $40.00 target price on Newmont Mining and gave the stock a “hold” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $42.74.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.35, for a total transaction of $46,687.50. Following the transaction, the chief operating officer now owns 88,112 shares of the company’s stock, valued at approximately $3,290,983.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total value of $392,267.50. Following the transaction, the executive vice president now directly owns 82,114 shares in the company, valued at approximately $3,142,502.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,700 shares of company stock worth $1,038,458. 0.32% of the stock is owned by corporate insiders.
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Newmont Mining Company Profile
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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