Tyers Asset Management LLC grew its position in shares of Newmont Mining Co. (NYSE:NEM) by 96.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 124,352 shares of the basic materials company’s stock after acquiring an additional 61,200 shares during the period. Tyers Asset Management LLC’s holdings in Newmont Mining were worth $4,858,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. MetLife Investment Advisors LLC purchased a new position in shares of Newmont Mining during the 4th quarter worth approximately $6,191,000. Alliancebernstein L.P. grew its holdings in shares of Newmont Mining by 120.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,386,160 shares of the basic materials company’s stock worth $89,529,000 after acquiring an additional 1,306,175 shares during the period. QS Investors LLC grew its holdings in shares of Newmont Mining by 102.3% during the 4th quarter. QS Investors LLC now owns 35,652 shares of the basic materials company’s stock worth $1,338,000 after acquiring an additional 18,026 shares during the period. American International Group Inc. grew its holdings in shares of Newmont Mining by 14.9% during the 4th quarter. American International Group Inc. now owns 182,639 shares of the basic materials company’s stock worth $6,853,000 after acquiring an additional 23,655 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Newmont Mining by 58.9% during the 4th quarter. Xact Kapitalforvaltning AB now owns 68,919 shares of the basic materials company’s stock worth $2,586,000 after acquiring an additional 25,558 shares during the period. Hedge funds and other institutional investors own 83.03% of the company’s stock.
NEM has been the topic of a number of analyst reports. TheStreet raised Newmont Mining from a “c+” rating to a “b” rating in a research report on Thursday, April 26th. Deutsche Bank boosted their price target on Newmont Mining from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, April 11th. Royal Bank of Canada reissued a “sell” rating and issued a $44.00 price target on shares of Newmont Mining in a research report on Wednesday, April 4th. BMO Capital Markets set a $46.00 price target on Newmont Mining and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Finally, Scotiabank reissued a “buy” rating and issued a $49.00 price target on shares of Newmont Mining in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.93.
Newmont Mining opened at $39.51 on Wednesday, Marketbeat.com reports. The company has a market capitalization of $21.55 billion, a P/E ratio of 27.06 and a beta of 0.29. Newmont Mining Co. has a 12-month low of $38.97 and a 12-month high of $39.72. The company has a current ratio of 4.18, a quick ratio of 3.62 and a debt-to-equity ratio of 0.35.
Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, April 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Newmont Mining had a return on equity of 7.01% and a net margin of 0.64%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. analysts forecast that Newmont Mining Co. will post 1.5 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Shareholders of record on Thursday, June 7th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.42%. Newmont Mining’s dividend payout ratio is presently 38.36%.
In other Newmont Mining news, insider Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $39.31, for a total transaction of $157,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $38.06, for a total transaction of $38,060.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,500 shares of company stock valued at $794,165. Company insiders own 0.36% of the company’s stock.
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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