Newmont Mining Corp (NEM) Position Cut by Foundation Resource Management Inc.
Foundation Resource Management Inc. trimmed its position in shares of Newmont Mining Corp (NYSE:NEM) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 985,258 shares of the basic materials company’s stock after selling 6,695 shares during the quarter. Newmont Mining makes up approximately 6.7% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Foundation Resource Management Inc.’s holdings in Newmont Mining were worth $36,967,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Timber Hill LLC bought a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $260,000. Deane Retirement Strategies Inc. bought a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $1,513,000. Commonwealth Bank of Australia grew its stake in shares of Newmont Mining by 5.7% in the 3rd quarter. Commonwealth Bank of Australia now owns 433,082 shares of the basic materials company’s stock valued at $16,239,000 after purchasing an additional 23,286 shares during the period. Saratoga Research & Investment Management bought a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $382,000. Finally, Gabelli Funds LLC grew its stake in shares of Newmont Mining by 3.7% in the 3rd quarter. Gabelli Funds LLC now owns 2,731,471 shares of the basic materials company’s stock valued at $102,457,000 after purchasing an additional 97,300 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.
In other Newmont Mining news, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $36.98, for a total transaction of $36,980.00. Following the transaction, the insider now owns 334,730 shares of the company’s stock, valued at approximately $12,378,315.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total value of $45,550.00. Following the transaction, the chief operating officer now directly owns 86,862 shares in the company, valued at approximately $3,165,251.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,700 shares of company stock worth $1,020,676. Company insiders own 0.32% of the company’s stock.
Newmont Mining Corp (NYSE:NEM) traded down $0.25 during midday trading on Wednesday, reaching $38.11. The company had a trading volume of 3,902,500 shares, compared to its average volume of 4,307,450. The company has a market cap of $20,330.00, a price-to-earnings ratio of 54.44 and a beta of 0.10. Newmont Mining Corp has a 1-year low of $31.42 and a 1-year high of $39.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. research analysts anticipate that Newmont Mining Corp will post 1.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 8th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, December 7th. Newmont Mining’s dividend payout ratio is 42.86%.
NEM has been the topic of several analyst reports. TheStreet lowered Newmont Mining from a “b-” rating to a “c” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, October 18th. BMO Capital Markets restated a “buy” rating and set a $43.00 price target on shares of Newmont Mining in a research report on Wednesday, December 20th. TD Securities set a $42.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, FBR & Co set a $40.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.64.
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Newmont Mining 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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