CIBC World Markets Inc. reduced its position in Newmont Mining Corp (NYSE:NEM) by 87.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 25,482 shares of the basic materials company’s stock after selling 175,229 shares during the period. CIBC World Markets Inc.’s holdings in Newmont Mining were worth $770,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Newmont Mining by 1.8% during the third quarter. BlackRock Inc. now owns 72,485,781 shares of the basic materials company’s stock worth $2,189,072,000 after purchasing an additional 1,288,890 shares during the period. Flossbach Von Storch AG increased its holdings in shares of Newmont Mining by 32.8% during the third quarter. Flossbach Von Storch AG now owns 13,529,462 shares of the basic materials company’s stock worth $408,590,000 after purchasing an additional 3,339,775 shares during the period. FMR LLC increased its holdings in shares of Newmont Mining by 31.9% during the third quarter. FMR LLC now owns 9,763,576 shares of the basic materials company’s stock worth $294,860,000 after purchasing an additional 2,359,109 shares during the period. Northern Trust Corp increased its holdings in shares of Newmont Mining by 5.6% during the second quarter. Northern Trust Corp now owns 8,472,011 shares of the basic materials company’s stock worth $319,480,000 after purchasing an additional 448,415 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Newmont Mining by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,089,539 shares of the basic materials company’s stock worth $191,885,000 after purchasing an additional 583,232 shares during the period. Institutional investors and hedge funds own 83.98% of the company’s stock.
Several brokerages have recently commented on NEM. Barclays began coverage on shares of Newmont Mining in a report on Wednesday, October 10th. They set an “overweight” rating and a $34.00 target price on the stock. Credit Suisse Group set a $49.00 target price on shares of Newmont Mining and gave the stock a “buy” rating in a report on Friday, November 9th. BMO Capital Markets reaffirmed a “buy” rating and set a $46.00 target price on shares of Newmont Mining in a report on Friday, September 21st. Raymond James raised their target price on shares of Newmont Mining from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 9th. Finally, Zacks Investment Research raised shares of Newmont Mining from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $41.33.
Newmont Mining (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. As a group, equities analysts predict that Newmont Mining Corp will post 1.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.66%. Newmont Mining’s dividend payout ratio (DPR) is 38.36%.
In related news, CEO Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $31.51, for a total value of $126,040.00. Following the transaction, the chief executive officer now directly owns 138,533 shares of the company’s stock, valued at $4,365,174.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $31.51, for a total transaction of $39,387.50. Following the completion of the transaction, the insider now directly owns 130,360 shares in the company, valued at $4,107,643.60. The disclosure for this sale can be found here. Insiders sold 20,500 shares of company stock worth $632,528 over the last three months. 0.36% of the stock is currently owned by insiders.
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About Newmont Mining
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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