Mercer Global Advisors Inc. ADV Takes $904,000 Position in Newmont Mining Corp (NEM)

Mercer Global Advisors Inc. ADV purchased a new stake in shares of Newmont Mining Corp (NYSE:NEM) in the first quarter, according to its most recent filing with the SEC. The firm purchased 26,084 shares of the basic materials company’s stock, valued at approximately $904,000.

Several other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems raised its position in shares of Newmont Mining by 0.3% during the 4th quarter. Utah Retirement Systems now owns 99,391 shares of the basic materials company’s stock worth $3,444,000 after purchasing an additional 300 shares during the last quarter. Archford Capital Strategies LLC raised its position in shares of Newmont Mining by 66.7% during the 4th quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 300 shares during the last quarter. CWM LLC raised its position in shares of Newmont Mining by 12.7% during the 4th quarter. CWM LLC now owns 2,817 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 317 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Newmont Mining by 70.2% during the 4th quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 330 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. raised its position in shares of Newmont Mining by 1.3% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 30,150 shares of the basic materials company’s stock worth $1,078,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 86.87% of the company’s stock.

In other news, EVP E Randall Engel sold 17,100 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $37.14, for a total transaction of $635,094.00. Following the completion of the sale, the executive vice president now directly owns 236,847 shares of the company’s stock, valued at approximately $8,796,497.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $34.13, for a total transaction of $42,662.50. Following the sale, the chief operating officer now directly owns 126,610 shares of the company’s stock, valued at $4,321,199.30. The disclosure for this sale can be found here. Insiders have sold a total of 40,850 shares of company stock valued at $1,469,194 over the last three months. Corporate insiders own 0.36% of the company’s stock.

Several research analysts recently issued reports on NEM shares. ValuEngine downgraded Newmont Mining from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Raymond James lowered their target price on shares of Newmont Mining from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, March 5th. Canaccord Genuity raised shares of Newmont Mining from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a research note on Tuesday, January 15th. Barclays lifted their target price on shares of Newmont Mining from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Newmont Mining in a research note on Wednesday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.49.

NEM stock opened at $34.79 on Wednesday. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 26.99 and a beta of 0.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.95 and a quick ratio of 2.60. Newmont Mining Corp has a one year low of $29.06 and a one year high of $41.96.

Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, February 21st. The basic materials company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.17. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Newmont Mining had a net margin of 4.70% and a return on equity of 6.19%. Newmont Mining’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. As a group, sell-side analysts expect that Newmont Mining Corp will post 1.34 EPS for the current year.

The business also recently disclosed a special dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a dividend yield of 1.57%. Newmont Mining’s dividend payout ratio is presently 41.48%.

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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.

Further Reading: What are Institutional Investors?

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

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