Moors & Cabot Inc. Cuts Stake in Newmont Mining Corp (NEM)

Moors & Cabot Inc. cut its stake in shares of Newmont Mining Corp (NYSE:NEM) by 14.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,882 shares of the basic materials company’s stock after selling 1,997 shares during the quarter. Moors & Cabot Inc.’s holdings in Newmont Mining were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in Newmont Mining by 27.7% during the 1st quarter. Van ECK Associates Corp now owns 30,087,822 shares of the basic materials company’s stock valued at $1,175,531,000 after acquiring an additional 6,532,988 shares during the period. Flossbach Von Storch AG boosted its holdings in Newmont Mining by 16.8% during the 1st quarter. Flossbach Von Storch AG now owns 9,930,898 shares of the basic materials company’s stock valued at $388,000,000 after acquiring an additional 1,430,627 shares during the period. First Eagle Investment Management LLC boosted its holdings in Newmont Mining by 115.5% during the 1st quarter. First Eagle Investment Management LLC now owns 9,584,767 shares of the basic materials company’s stock valued at $374,477,000 after acquiring an additional 5,137,612 shares during the period. Geode Capital Management LLC boosted its holdings in Newmont Mining by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 6,378,102 shares of the basic materials company’s stock valued at $238,856,000 after acquiring an additional 410,435 shares during the period. Finally, Swiss National Bank boosted its holdings in Newmont Mining by 2.5% during the 1st quarter. Swiss National Bank now owns 4,871,232 shares of the basic materials company’s stock valued at $190,319,000 after acquiring an additional 120,200 shares during the period. Institutional investors own 82.25% of the company’s stock.

In other news, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $38.88, for a total value of $48,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $935,890 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on the company. TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Deutsche Bank increased their target price on Newmont Mining from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, April 11th. Bank of America increased their target price on Newmont Mining from $46.00 to $49.00 and gave the company a “buy” rating in a report on Monday, February 26th. Royal Bank of Canada restated a “sell” rating and set a $44.00 target price on shares of Newmont Mining in a report on Wednesday, April 4th. Finally, ValuEngine cut Newmont Mining from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.92.

Newmont Mining opened at $37.02 on Friday, according to MarketBeat Ratings. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 25.36 and a beta of 0.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.18 and a quick ratio of 3.62. Newmont Mining Corp has a one year low of $31.42 and a one year high of $42.04.

Newmont Mining (NYSE:NEM) last released its quarterly 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. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Newmont Mining had a return on equity of 7.01% and a net margin of 0.64%. Newmont Mining’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. equities research analysts forecast that Newmont Mining Corp will post 1.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 21st. Shareholders of record on Thursday, June 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Wednesday, June 6th. Newmont Mining’s payout ratio is 38.36%.

Newmont Mining 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.

Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

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