Cornerstone Capital Management Holdings LLC. lifted its position in Newmont Mining Corp (NYSE:NEM) by 34.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 767,195 shares of the basic materials company’s stock after buying an additional 194,504 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.14% of Newmont Mining worth $28,776,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NEM. Sun Life Financial INC grew its stake in shares of Newmont Mining by 43,144.4% in the second quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after buying an additional 3,883 shares in the last quarter. Tiedemann Wealth Management LLC grew its stake in shares of Newmont Mining by 66.5% in the third quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock valued at $170,000 after buying an additional 5,938 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Newmont Mining in the third quarter valued at $222,000. Timber Hill LLC bought a new position in shares of Newmont Mining in the third quarter valued at $260,000. Finally, Veritable L.P. grew its stake in shares of Newmont Mining by 4.6% in the second quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after buying an additional 370 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on NEM. TheStreet raised shares of Newmont Mining from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, October 18th. Royal Bank Of Canada set a $41.00 price objective on shares of Newmont Mining and gave the stock a “hold” rating in a research report on Monday, August 28th. TD Securities set a $42.00 price objective on shares of Newmont Mining and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, BMO Capital Markets set a $40.00 price objective on shares of Newmont Mining and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $42.74.
In related news, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $36.98, for a total value of $36,980.00. Following the completion of the transaction, the insider now owns 334,730 shares of the company’s stock, valued at $12,378,315.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total value of $392,267.50. Following the completion of the transaction, the executive vice president now directly owns 82,114 shares of the company’s stock, valued at approximately $3,142,502.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,700 shares of company stock valued at $1,038,458. 0.32% of the stock is owned by insiders.
Shares of Newmont Mining Corp (NYSE NEM) opened at $35.40 on Friday. The stock has a market cap of $19,157.45, a PE ratio of 25.84 and a beta of 0.10. Newmont Mining Corp has a 52-week low of $30.40 and a 52-week high of $39.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58.
Newmont Mining (NYSE:NEM) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. Newmont Mining’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. sell-side analysts forecast that Newmont Mining Corp will post 1.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, December 7th. Newmont Mining’s dividend payout ratio (DPR) is presently 200.00%.
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Newmont Mining Profile
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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