Oregon Public Employees Retirement Fund reduced its stake in shares of Newmont Mining Corp (NYSE:NEM) by 9.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 137,212 shares of the basic materials company’s stock after selling 14,414 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Newmont Mining were worth $5,174,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Newmont Mining during the 1st quarter worth $115,000. Private Capital Group LLC lifted its holdings in shares of Newmont Mining by 177.0% during the 1st quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 1,935 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Newmont Mining by 4,127.4% during the 1st quarter. Summit Trail Advisors LLC now owns 127,624 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 124,605 shares during the last quarter. Signaturefd LLC bought a new stake in shares of Newmont Mining during the 1st quarter worth $152,000. Finally, Stephens Inc. AR bought a new stake in shares of Newmont Mining during the 1st quarter worth $219,000. 82.78% of the stock is owned by institutional investors.
In related news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $30.53, for a total value of $38,162.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 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 transaction of $112,410.00. Following the completion of the transaction, the executive vice president now owns 111,831 shares in the company, valued at approximately $4,190,307.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,250 shares of company stock worth $703,443. 0.36% of the stock is owned by corporate insiders.
NEM has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Morgan Stanley raised shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 12th. Canaccord Genuity set a $40.00 price objective on shares of Newmont Mining and gave the stock a “hold” rating in a report on Tuesday, July 24th. Finally, Citigroup dropped their price objective on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $42.64.
Shares of NYSE:NEM opened at $30.13 on Friday. The firm has a market capitalization of $16.13 billion, a P/E ratio of 22.24 and a beta of 0.18. Newmont Mining Corp has a 52 week low of $29.85 and a 52 week high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.95 and a current ratio of 4.60.
Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, July 26th. The basic materials company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $1.66 billion for 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 was down 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. equities analysts forecast that Newmont Mining Corp will post 1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, September 12th. Newmont Mining’s payout ratio is presently 38.36%.
About Newmont Mining
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.
Further Reading: Book Value Per Share – BVPS
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