Stifel Financial Corp Boosts Position in Newmont Mining Corp (NEM)
Stifel Financial Corp lifted its position in shares of Newmont Mining Corp (NYSE:NEM) by 79.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,976 shares of the basic materials company’s stock after acquiring an additional 66,186 shares during the period. Stifel Financial Corp’s holdings in Newmont Mining were worth $5,594,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of NEM. Sun Life Financial INC raised its position in shares of 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 acquiring an additional 3,883 shares in the last quarter. Tiedemann Wealth Management LLC raised its position in shares of Newmont Mining by 66.5% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock valued at $170,000 after acquiring an additional 5,938 shares in the last quarter. Parametrica Management Ltd acquired a new stake in shares of Newmont Mining during the 3rd quarter valued at approximately $222,000. Timber Hill LLC acquired a new stake in shares of Newmont Mining during the 3rd quarter valued at approximately $260,000. Finally, Veritable L.P. raised its position in shares of 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. 81.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $36.98, for a total value of $36,980.00. Following the completion of the transaction, the insider now owns 334,730 shares of the company’s stock, valued at $12,378,315.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total value of $207,708.00. Following the completion of the transaction, the executive vice president now directly owns 122,178 shares of the company’s stock, valued at approximately $4,452,166.32. The disclosure for this sale can be found here. In the last three months, insiders sold 27,700 shares of company stock valued at $1,038,458. Company insiders own 0.32% of the company’s stock.
NEM has been the topic of several research reports. BMO Capital Markets set a $40.00 price target on Newmont Mining and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Royal Bank of Canada set a $41.00 price objective on Newmont Mining and gave the stock a “hold” rating in a research note on Monday, August 28th. TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, October 18th. Finally, TD Securities set a $42.00 price objective on Newmont Mining and gave the stock a “hold” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Newmont Mining presently has an average rating of “Buy” and an average price target of $42.74.
Shares of Newmont Mining Corp (NEM) traded up $0.15 on Friday, reaching $35.90. The company had a trading volume of 4,415,000 shares, compared to its average volume of 5,427,649. The company has a market cap of $19,066.78, a P/E ratio of 25.72 and a beta of 0.10. 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 Corp has a 52-week low of $30.40 and a 52-week high of $39.63.
Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities analysts predict that Newmont Mining Corp will post 1.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be paid a $0.075 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. Newmont Mining’s payout ratio is 200.00%.
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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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