Systematic Financial Management LP cut its holdings in shares of Newmont Mining Co. (NYSE:NEM) by 60.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,479 shares of the basic materials company’s stock after selling 264,681 shares during the quarter. Systematic Financial Management LP’s holdings in Newmont Mining were worth $6,895,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NEM. Premia Global Advisors LLC acquired a new position in shares of Newmont Mining during the fourth quarter worth approximately $139,000. Signaturefd LLC acquired a new position in shares of Newmont Mining during the first quarter worth approximately $152,000. Exane Derivatives acquired a new position in shares of Newmont Mining during the fourth quarter worth approximately $208,000. Stephens Inc. AR acquired a new position in shares of Newmont Mining during the first quarter worth approximately $219,000. Finally, Brown Advisory Inc. acquired a new position in shares of Newmont Mining during the fourth quarter worth approximately $228,000. Institutional investors own 82.44% of the company’s stock.
In other Newmont Mining news, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $39.33, for a total value of $117,990.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were 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. Insiders sold 20,500 shares of company stock worth $794,165 over the last quarter. Company insiders own 0.36% of the company’s stock.
A number of research analysts have recently commented on the company. TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Deutsche Bank upped their price target on Newmont Mining from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, April 11th. Bank of America upped their price target on Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Royal Bank of Canada restated a “sell” rating and issued a $44.00 target price on shares of Newmont Mining in a research note on Wednesday, April 4th. Finally, B. Riley upped their target price on Newmont Mining from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.93.
Shares of NYSE NEM opened at $39.59 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.18 and a quick ratio of 3.62. The firm has a market capitalization of $20.69 billion, a P/E ratio of 27.12 and a beta of 0.29. Newmont Mining Co. has a one year low of $31.42 and a one year high of $42.04.
Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, April 26th. The basic materials company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Newmont Mining had a return on equity of 7.01% and a net margin of 0.64%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.09 earnings per share. Newmont Mining’s revenue was up 7.5% on a year-over-year basis. equities analysts anticipate that Newmont Mining Co. will post 1.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Shareholders of record on Thursday, June 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Wednesday, June 6th. Newmont Mining’s dividend payout ratio (DPR) is 38.36%.
Newmont Mining Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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