LS Investment Advisors LLC lifted its stake in shares of Newmont Mining Corp (NYSE:NEM) by 21.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,292 shares of the basic materials company’s stock after buying an additional 3,426 shares during the quarter. LS Investment Advisors LLC’s holdings in Newmont Mining were worth $724,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. Tiedemann Wealth Management LLC lifted its stake 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 worth $170,000 after buying an additional 5,938 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Newmont Mining during the 4th quarter worth about $208,000. Parametrica Management Ltd acquired a new stake in Newmont Mining in the 3rd quarter worth about $222,000. Tower Bridge Advisors acquired a new stake in Newmont Mining in the 4th quarter worth about $242,000. Finally, Meeder Asset Management Inc. acquired a new stake in Newmont Mining in the 4th quarter worth about $250,000. Institutional investors own 81.88% of the company’s stock.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank cut shares of Newmont Mining from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $42.00 to $40.00 in a research note on Tuesday, January 16th. Scotiabank set a $48.00 price objective on shares of Newmont Mining and gave the stock a “buy” rating in a research note on Monday, January 15th. BMO Capital Markets reiterated a “buy” rating and issued a $43.00 price objective on shares of Newmont Mining in a research note on Wednesday, December 20th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $43.00 price objective on shares of Newmont Mining in a research note on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.80.
Newmont Mining Corp (NYSE NEM) opened at $39.00 on Thursday. The company has a market cap of $19,744.12, a P/E ratio of 26.63 and a beta of 0.24. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33. Newmont Mining Corp has a 12-month low of $31.42 and a 12-month high of $42.04.
In other news, EVP Elaine J. Dorward-King sold 10,250 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $36.48, for a total value of $373,920.00. Following the completion of the transaction, the executive vice president now directly owns 71,864 shares in the company, valued at approximately $2,621,598.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $36.98, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 27,700 shares of company stock valued at $1,050,806 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.
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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