Metropolitan Life Insurance Co. NY lessened its stake in Newmont Mining Corp (NYSE:NEM) by 67.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 82,637 shares of the basic materials company’s stock after selling 168,918 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Newmont Mining were worth $3,101,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Commonwealth Bank of Australia raised its position in shares of Newmont Mining by 5.7% during the 3rd quarter. Commonwealth Bank of Australia now owns 433,082 shares of the basic materials company’s stock worth $16,239,000 after acquiring an additional 23,286 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Newmont Mining by 53.4% during the 3rd quarter. Cohen & Steers Inc. now owns 108,616 shares of the basic materials company’s stock worth $4,074,000 after acquiring an additional 37,813 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Newmont Mining by 2.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 974,348 shares of the basic materials company’s stock worth $36,554,000 after acquiring an additional 22,325 shares in the last quarter. KBC Group NV raised its position in shares of Newmont Mining by 19.0% during the 3rd quarter. KBC Group NV now owns 77,494 shares of the basic materials company’s stock worth $2,907,000 after acquiring an additional 12,359 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Newmont Mining by 79.9% during the 3rd quarter. Stifel Financial Corp now owns 148,976 shares of the basic materials company’s stock worth $5,594,000 after acquiring an additional 66,186 shares in the last quarter. Institutional investors and hedge funds own 82.27% of the company’s stock.
Several brokerages have recently weighed in on NEM. TheStreet lowered Newmont Mining from a “b-” rating to a “c+” rating in a research report on Monday, March 12th. Royal Bank of Canada reissued a “hold” rating and set a $43.00 target price on shares of Newmont Mining in a research report on Tuesday, December 5th. Scotiabank set a $48.00 target price on Newmont Mining and gave the stock a “buy” rating in a research report on Monday, January 15th. BMO Capital Markets reissued a “buy” rating and set a $43.00 target price on shares of Newmont Mining in a research report on Wednesday, December 20th. Finally, Deutsche Bank lowered Newmont Mining from a “buy” rating to a “hold” rating and cut their target price for the stock from $42.00 to $40.00 in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.57.
Newmont Mining stock opened at $38.22 on Thursday. The company has a market capitalization of $19,898.61, a P/E ratio of 25.55 and a beta of 0.29. Newmont Mining Corp has a 12-month low of $31.42 and a 12-month high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.63.
Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. equities analysts expect that Newmont Mining Corp will post 1.4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be given a dividend of $0.14 per share. This is a positive change from Newmont Mining’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.56 annualized dividend and a yield of 1.47%. Newmont Mining’s payout ratio is -311.09%.
In other news, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $38.06, for a total value of $38,060.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott P. Lawson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $37.72, for a total value of $188,600.00. Following the completion of the transaction, the executive vice president now directly owns 46,696 shares in the company, valued at approximately $1,761,373.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,450 shares of company stock worth $868,866. 0.36% of the stock is currently owned by corporate insiders.
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About Newmont Mining
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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