Nordea Investment Management AB boosted its position in Newmont Mining Corp (NYSE:NEM) by 36.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 812,589 shares of the basic materials company’s stock after purchasing an additional 219,137 shares during the period. Nordea Investment Management AB owned about 0.15% of Newmont Mining worth $28,156,000 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. raised its position in shares of Newmont Mining by 9.2% in the fourth 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 in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Newmont Mining by 3,384.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,808,727 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 4,670,718 shares during the last quarter. FMR LLC increased its stake in Newmont Mining by 31.9% in the third quarter. FMR LLC now owns 9,763,576 shares of the basic materials company’s stock valued at $294,860,000 after acquiring an additional 2,359,109 shares during the last quarter. Elephas Investment Management Ltd bought a new position in Newmont Mining in the fourth quarter valued at approximately $49,694,000. Finally, Key Square Capital Management LLC bought a new position in Newmont Mining in the fourth quarter valued at approximately $40,691,000. Institutional investors and hedge funds own 86.87% of the company’s stock.
Newmont Mining stock traded down $1.14 during trading on Friday, reaching $33.04. The company had a trading volume of 26,298,470 shares, compared to its average volume of 16,492,531. Newmont Mining Corp has a 1-year low of $29.06 and a 1-year high of $41.96. The stock has a market capitalization of $17.66 billion, a P/E ratio of 24.47 and a beta of 0.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.60 and a current ratio of 2.95.
The company also recently disclosed a special dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a yield of 1.57%. Newmont Mining’s payout ratio is currently 41.48%.
A number of analysts have weighed in on NEM shares. Zacks Investment Research cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Deutsche Bank reaffirmed a “hold” rating and set a $36.00 target price (up previously from $35.00) on shares of Newmont Mining in a research note on Wednesday, April 10th. Barclays boosted 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. TheStreet raised shares of Newmont Mining from a “c” rating to a “b-” rating in a research note on Thursday, February 21st. Finally, Raymond James reaffirmed an “outperform” rating and set a $48.00 target price on shares of Newmont Mining in a research note on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Newmont Mining currently has an average rating of “Hold” and a consensus price target of $40.49.
In other Newmont Mining news, insider Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.85, for a total value of $44,812.50. Following the transaction, the insider now owns 276,573 shares in the company, valued at approximately $9,915,142.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $34.13, for a total value of $136,520.00. Following the completion of the transaction, the chief executive officer now owns 137,797 shares in the company, valued at approximately $4,703,011.61. The disclosure for this sale can be found here. Insiders sold a total of 40,850 shares of company stock worth $1,469,194 in the last 90 days. 0.44% of the stock is currently owned by 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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