Gotham Asset Management LLC lifted its stake in Newmont Mining Corp (NYSE:NEM) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 239,183 shares of the basic materials company’s stock after purchasing an additional 15,904 shares during the quarter. Gotham Asset Management LLC’s holdings in Newmont Mining were worth $8,974,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Commonwealth Bank of Australia increased its holdings in shares of Newmont Mining by 5.7% in the third 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 last quarter. Cohen & Steers Inc. increased its holdings in shares of Newmont Mining by 53.4% in the third quarter. Cohen & Steers Inc. now owns 108,616 shares of the basic materials company’s stock valued at $4,074,000 after purchasing an additional 37,813 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Newmont Mining by 2.3% in the third quarter. Asset Management One Co. Ltd. now owns 974,348 shares of the basic materials company’s stock valued at $36,554,000 after purchasing an additional 22,325 shares during the last quarter. KBC Group NV increased its holdings in shares of Newmont Mining by 19.0% in the third quarter. KBC Group NV now owns 77,494 shares of the basic materials company’s stock valued at $2,907,000 after purchasing an additional 12,359 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Newmont Mining by 79.9% in the third quarter. Stifel Financial Corp now owns 148,976 shares of the basic materials company’s stock valued at $5,594,000 after purchasing an additional 66,186 shares during the last quarter. 82.27% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Scott P. Lawson sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $37.72, for a total transaction 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 $1,761,373.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $38.06, for a total value of $38,060.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,450 shares of company stock valued at $868,866. Company insiders own 0.36% of the company’s stock.
Several research firms recently commented on NEM. Citigroup increased their price target on Newmont Mining from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, March 1st. Zacks Investment Research raised Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Friday, February 9th. B. Riley increased their price target on Newmont Mining from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. ValuEngine upgraded Newmont Mining from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Royal Bank of Canada lowered Newmont Mining from a “sector perform” rating to an “underperform” rating and increased their price objective for the stock from $37.71 to $43.00 in a research report on Monday, March 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $42.57.
NEM stock opened at $38.76 on Friday. The firm has a market capitalization of $20,389.41, a P/E ratio of -215.32 and a beta of 0.29. Newmont Mining Corp has a 52-week low of $31.42 and a 52-week high of $42.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.63 and a quick ratio of 3.14.
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. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. analysts anticipate that Newmont Mining Corp will post 1.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were given a dividend of $0.14 per share. This is a positive change from Newmont Mining’s previous quarterly dividend of $0.08. This represents a $0.56 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 7th. Newmont Mining’s dividend payout ratio (DPR) is currently -311.09%.
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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