Rathbone Brothers plc decreased its stake in Newmont Mining Corp (NYSE:NEM) by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,847 shares of the basic materials company’s stock after selling 16,300 shares during the period. Rathbone Brothers plc’s holdings in Newmont Mining were worth $3,740,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Flossbach Von Storch AG boosted its stake in shares of Newmont Mining by 2.6% in the 2nd quarter. Flossbach Von Storch AG now owns 10,189,687 shares of the basic materials company’s stock valued at $384,253,000 after purchasing an additional 258,789 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Newmont Mining by 5.6% in the 2nd quarter. Northern Trust Corp now owns 8,472,011 shares of the basic materials company’s stock valued at $319,480,000 after purchasing an additional 448,415 shares in the last quarter. FMR LLC boosted its stake in shares of Newmont Mining by 54.1% in the 2nd quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after purchasing an additional 2,598,995 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Newmont Mining by 12.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,089,539 shares of the basic materials company’s stock valued at $191,885,000 after purchasing an additional 583,232 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Newmont Mining by 6.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock valued at $135,716,000 after purchasing an additional 228,782 shares in the last quarter. 82.66% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Gary J. Goldberg sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $120,800.00. Following the completion of the sale, the insider now directly owns 138,533 shares of the company’s stock, valued at approximately $4,183,696.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $36.45, for a total transaction of $109,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,500 shares of company stock valued at $675,763. Corporate insiders own 0.36% of the company’s stock.
Shares of NEM opened at $32.04 on Friday. The firm has a market cap of $16.11 billion, a price-to-earnings ratio of 21.95 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95. Newmont Mining Corp has a twelve month low of $29.16 and a twelve month high of $42.04.
Newmont Mining (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, equities research analysts forecast that Newmont Mining Corp will post 1.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th were given a $0.14 dividend. The ex-dividend date was Wednesday, September 12th. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. Newmont Mining’s dividend payout ratio is 38.36%.
NEM has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Newmont Mining in a research note on Monday, October 8th. Citigroup dropped their price target on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. JPMorgan Chase & Co. dropped their price target on shares of Newmont Mining from $47.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, September 17th. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c” rating in a research report on Thursday, October 4th. Finally, ValuEngine cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.86.
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.
Featured Article: Yield Curve
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Mining Corp (NYSE:NEM).
Receive News & Ratings for Newmont Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining and related companies with MarketBeat.com's FREE daily email newsletter.