Twin Capital Management Inc. grew its holdings in shares of Newmont Mining Corp (NYSE:NEM) by 1.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 169,820 shares of the basic materials company’s stock after acquiring an additional 1,610 shares during the period. Twin Capital Management Inc.’s holdings in Newmont Mining were worth $6,404,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Global Financial Private Capital LLC acquired a new stake in Newmont Mining in the second quarter worth $543,000. CIBC World Markets Inc. boosted its stake in Newmont Mining by 37.6% in the 2nd quarter. CIBC World Markets Inc. now owns 200,711 shares of the basic materials company’s stock valued at $7,569,000 after buying an additional 54,828 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Newmont Mining by 12.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 224,527 shares of the basic materials company’s stock valued at $8,467,000 after buying an additional 24,073 shares in the last quarter. Jennison Associates LLC boosted its stake in Newmont Mining by 8.7% in the 2nd quarter. Jennison Associates LLC now owns 604,186 shares of the basic materials company’s stock valued at $22,784,000 after buying an additional 48,429 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its stake in Newmont Mining by 38.7% in the 2nd quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,916 shares in the last quarter. Institutional investors own 82.78% of the company’s stock.
Several analysts recently commented on the company. Canaccord Genuity set a $40.00 price target on Newmont Mining and gave the company a “hold” rating in a research note on Tuesday, July 24th. ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Morgan Stanley raised Newmont Mining from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 12th. Finally, Citigroup decreased their price target on Newmont Mining from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.64.
In other Newmont Mining news, CFO Nancy Buese sold 2,000 shares of Newmont Mining stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $37.47, for a total value of $74,940.00. Following the completion of the transaction, the chief financial officer now owns 86,577 shares in the company, valued at approximately $3,244,040.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $37.47, for a total value of $149,880.00. Following the completion of the transaction, the insider now owns 138,533 shares of the company’s stock, valued at approximately $5,190,831.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,000 shares of company stock valued at $665,280. Corporate insiders own 0.36% of the company’s stock.
Shares of NEM opened at $30.32 on Thursday. The company has a quick ratio of 3.95, a current ratio of 4.60 and a debt-to-equity ratio of 0.35. Newmont Mining Corp has a 52-week low of $30.00 and a 52-week high of $42.04. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 20.77 and a beta of 0.18.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Newmont Mining had a return on equity of 6.17% and a net margin of 2.23%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. equities research analysts forecast that Newmont Mining Corp will post 1.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.56 annualized dividend and a yield of 1.85%. Newmont Mining’s payout ratio is 38.36%.
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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