New Mexico Educational Retirement Board lowered its stake in Newmont Mining Corp (NYSE:NEM) by 2.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 44,380 shares of the basic materials company’s stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Newmont Mining were worth $1,587,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Newmont Mining by 9.2% in the 4th quarter. BlackRock Inc. now owns 79,175,130 shares of the basic materials company’s stock valued at $2,743,419,000 after buying an additional 6,689,349 shares during the last quarter. Vanguard Group Inc grew its stake in Newmont Mining by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock valued at $1,730,842,000 after buying an additional 620,141 shares during the last quarter. Flossbach Von Storch AG grew its stake in Newmont Mining by 4.8% in the 4th quarter. Flossbach Von Storch AG now owns 14,181,862 shares of the basic materials company’s stock valued at $491,402,000 after buying an additional 652,400 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Newmont Mining by 10.4% in the 4th quarter. Bank of New York Mellon Corp now owns 8,602,670 shares of the basic materials company’s stock valued at $298,082,000 after buying an additional 812,109 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Newmont Mining by 0.7% during 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 purchasing an additional 60,289 shares in the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.
A number of brokerages have issued reports on NEM. Deutsche Bank restated a “hold” rating and set a $36.00 target price (up previously from $35.00) on shares of Newmont Mining in a research report on Wednesday, April 10th. Raymond James set a $47.00 target price on shares of Newmont Mining and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada decreased their target price on shares of Newmont Mining to $39.00 and set an “underperform” rating on the stock in a research report on Monday, April 8th. Barclays restated a “buy” rating and set a $39.00 target price on shares of Newmont Mining in a research report on Thursday, March 28th. Finally, Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.49.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 21st. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.17. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.88 billion. Newmont Mining had a net margin of 4.70% and a return on equity of 6.19%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Equities analysts expect that Newmont Mining Corp will post 1.33 EPS for the current year.
The company also recently declared a special dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th will be given 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 41.48%.
In related news, EVP E Randall Engel sold 17,100 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $37.14, for a total value of $635,094.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 126,610 shares of the company’s stock, valued at approximately $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 worth $1,469,194 in the last quarter. 0.44% of the stock is currently owned by company insiders.
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Newmont Mining Company 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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