Anchor Bolt Capital LP Acquires New Position in Newmont Mining Corp (NEM)

Anchor Bolt Capital LP acquired a new stake in shares of Newmont Mining Corp (NYSE:NEM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 498,612 shares of the basic materials company’s stock, valued at approximately $17,277,000. Newmont Mining makes up about 1.2% of Anchor Bolt Capital LP’s investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Edmond DE Rothschild Holding S.A. grew its position in shares of Newmont Mining by 1.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 102,305 shares of the basic materials company’s stock worth $3,545,000 after acquiring an additional 1,210 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Newmont Mining by 9.9% in the 4th quarter. Cohen & Steers Inc. now owns 262,992 shares of the basic materials company’s stock worth $9,113,000 after acquiring an additional 23,715 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Newmont Mining by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock worth $284,738,000 after acquiring an additional 60,289 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Newmont Mining by 18.7% in the 4th quarter. Brown Advisory Inc. now owns 22,220 shares of the basic materials company’s stock worth $771,000 after acquiring an additional 3,493 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of Newmont Mining by 57.1% in the 4th quarter. Natixis Advisors L.P. now owns 113,921 shares of the basic materials company’s stock worth $3,947,000 after acquiring an additional 41,416 shares in the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.

NYSE:NEM opened at $33.42 on Friday. Newmont Mining Corp has a 12-month low of $29.06 and a 12-month high of $41.98. The company has a market cap of $18.33 billion, a P/E ratio of 24.76 and a beta of 0.01. The company has a quick ratio of 2.60, a current ratio of 2.95 and a debt-to-equity ratio of 0.31.

Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, February 21st. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.17. Newmont Mining had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that Newmont Mining Corp will post 1.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Thursday, March 7th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.68%. Newmont Mining’s dividend payout ratio is currently 41.48%.

Several research analysts have recently commented on the company. TheStreet upgraded Newmont Mining from a “c” rating to a “b-” rating in a research report on Thursday, February 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $33.00 target price on shares of Newmont Mining in a research report on Friday, February 22nd. Raymond James reiterated an “outperform” rating and issued a $48.00 target price on shares of Newmont Mining in a research report on Friday, February 22nd. ValuEngine lowered Newmont Mining from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Royal Bank of Canada set a $41.00 target price on Newmont Mining and gave the stock a “sell” rating in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $40.08.

In other Newmont Mining news, EVP E Randall Engel sold 17,100 shares of Newmont Mining stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $37.14, for a total transaction of $635,094.00. Following the sale, the executive vice president now owns 236,847 shares of the company’s stock, valued at approximately $8,796,497.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $34.43, for a total value of $43,037.50. Following the sale, the insider now directly owns 127,860 shares in the company, valued at approximately $4,402,219.80. The disclosure for this sale can be found here. Insiders have sold a total of 44,350 shares of company stock valued at $1,576,609 in the last 90 days. Insiders own 0.36% of the company’s stock.

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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.

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

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