Mercer Global Advisors Inc. ADV purchased a new stake in Newmont Mining Corp (NYSE:NEM) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,084 shares of the basic materials company’s stock, valued at approximately $904,000.
Several other hedge funds also recently bought and sold shares of NEM. BlackRock Inc. grew 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 purchasing an additional 6,689,349 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of 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 purchasing an additional 4,670,718 shares in the last quarter. Norges Bank purchased a new stake in shares of Newmont Mining in the fourth quarter valued at approximately $131,587,000. Deutsche Bank AG grew its position in Newmont Mining by 153.3% in the fourth quarter. Deutsche Bank AG now owns 5,597,008 shares of the basic materials company’s stock worth $193,928,000 after acquiring an additional 3,387,246 shares during the period. Finally, Elephas Investment Management Ltd purchased a new position in Newmont Mining in the fourth quarter worth approximately $49,694,000. Institutional investors and hedge funds own 86.87% of the company’s stock.
In other news, EVP E Randall Engel sold 17,100 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $37.14, for a total value of $635,094.00. Following the sale, the executive vice president now directly owns 236,847 shares in the company, valued at $8,796,497.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $34.13, for a total value of $42,662.50. Following the completion of the sale, the chief operating officer now owns 126,610 shares in the company, valued at $4,321,199.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,850 shares of company stock worth $1,469,194. Insiders own 0.36% of the company’s stock.
NYSE:NEM opened at $34.79 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.60 and a current ratio of 2.95. Newmont Mining Corp has a 52 week low of $29.06 and a 52 week high of $41.96. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 26.99 and a beta of 0.01.
Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, February 21st. The basic materials company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. Newmont Mining had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that Newmont Mining Corp will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be paid a $0.88 dividend. This represents a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, April 16th. Newmont Mining’s payout ratio is currently 41.48%.
NEM has been the subject of several analyst reports. TheStreet upgraded Newmont Mining from a “c” rating to a “b-” rating in a research report on Thursday, February 21st. Credit Suisse Group reiterated a “buy” rating on shares of Newmont Mining in a research report on Wednesday, January 16th. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, February 12th. Canaccord Genuity upgraded Newmont Mining from a “hold” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a research note on Tuesday, January 15th. Finally, Barclays restated a “buy” rating and set a $39.00 price target on shares of Newmont Mining in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.49.
ILLEGAL ACTIVITY NOTICE: “26,084 Shares in Newmont Mining Corp (NEM) Purchased by Mercer Global Advisors Inc. ADV” was reported by Macon Daily and is the sole property of of Macon Daily. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://macondaily.com/2019/04/17/26084-shares-in-newmont-mining-corp-nem-purchased-by-mercer-global-advisors-inc-adv.html.
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.
Recommended Story: Leveraged Buyout (LBO)
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.