Candriam Luxembourg S.C.A. grew its stake in Newmont Mining Corporation (NYSE:NEM) by 41.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,777 shares of the basic materials company’s stock after buying an additional 34,825 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Newmont Mining Corporation were worth $4,493,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new position in Newmont Mining Corporation in the 3rd quarter worth approximately $1,513,000. MUFG Securities EMEA plc purchased a new stake in shares of Newmont Mining Corporation in the 2nd quarter valued at $12,341,000. Saratoga Research & Investment Management purchased a new stake in shares of Newmont Mining Corporation in the 3rd quarter valued at $382,000. Shell Asset Management Co. boosted its stake in shares of Newmont Mining Corporation by 173.1% in the 3rd quarter. Shell Asset Management Co. now owns 793,199 shares of the basic materials company’s stock valued at $18,283,000 after purchasing an additional 502,784 shares in the last quarter. Finally, Boyer & Corporon Wealth Management LLC boosted its stake in shares of Newmont Mining Corporation by 9.4% in the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock valued at $3,780,000 after purchasing an additional 10,048 shares in the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.
Newmont Mining Corporation (NYSE:NEM) opened at $35.71 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $39.63. The company has a market cap of $19,050.00, a price-to-earnings ratio of 25.55 and a beta of 0.11.
Newmont Mining Corporation (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. Newmont Mining Corporation’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. sell-side analysts predict that Newmont Mining Corporation will post 1.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be paid a $0.075 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. Newmont Mining Corporation’s payout ratio is 42.86%.
In related news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.60, for a total transaction of $38,600.00. Following the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $12,920,578. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total transaction of $207,708.00. Following the sale, the executive vice president now directly owns 122,178 shares in the company, valued at $4,452,166.32. The disclosure for this sale can be found here. Insiders have sold a total of 27,700 shares of company stock worth $1,042,103 over the last three months. 0.32% of the stock is currently owned by insiders.
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A number of brokerages have recently issued reports on NEM. FBR & Co set a $40.00 price objective on shares of Newmont Mining Corporation and gave the company a “hold” rating in a research note on Tuesday, October 31st. BidaskClub raised shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet raised shares of Newmont Mining Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, July 18th. Finally, Zacks Investment Research cut shares of Newmont Mining Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $40.50.
About Newmont Mining Corporation
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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