TD Asset Management Inc. decreased its holdings in Newmont Mining Corp (NYSE:NEM) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 430,254 shares of the basic materials company’s stock after selling 20,060 shares during the quarter. TD Asset Management Inc.’s holdings in Newmont Mining were worth $14,908,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of NEM. FMR LLC grew its position in Newmont Mining by 54.1% in the second quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after acquiring an additional 2,598,995 shares in the last quarter. Advisors Asset Management Inc. grew its position in Newmont Mining by 245.0% in the second quarter. Advisors Asset Management Inc. now owns 12,394 shares of the basic materials company’s stock valued at $467,000 after acquiring an additional 8,802 shares in the last quarter. DNB Asset Management AS grew its position in Newmont Mining by 72.7% in the third quarter. DNB Asset Management AS now owns 128,527 shares of the basic materials company’s stock valued at $3,882,000 after acquiring an additional 54,100 shares in the last quarter. PGGM Investments grew its position in Newmont Mining by 55.5% in the third quarter. PGGM Investments now owns 943,360 shares of the basic materials company’s stock valued at $28,489,000 after acquiring an additional 336,860 shares in the last quarter. Finally, First Manhattan Co. grew its position in Newmont Mining by 10.1% in the third quarter. First Manhattan Co. now owns 165,123 shares of the basic materials company’s stock valued at $4,986,000 after acquiring an additional 15,136 shares in the last quarter. Institutional investors own 84.62% of the company’s stock.
In related news, EVP Elaine J. Dorward-King sold 3,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $32.88, for a total transaction of $98,640.00. Following the transaction, the executive vice president now directly owns 96,831 shares in the company, valued at $3,183,803.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $32.88, for a total value of $131,520.00. Following the transaction, the chief executive officer now owns 138,533 shares in the company, valued at $4,554,965.04. The disclosure for this sale can be found here. Insiders have sold 32,750 shares of company stock worth $1,113,450 over the last 90 days. 0.36% of the stock is currently owned by company insiders.
NEM has been the subject of several recent research reports. Canaccord Genuity raised shares of Newmont Mining from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a research report on Tuesday, January 15th. Credit Suisse Group reaffirmed a “buy” rating on shares of Newmont Mining in a research report on Wednesday, January 16th. CIBC cut Newmont Mining from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $48.00 to $41.00 in a research note on Tuesday, January 15th. Raymond James reduced their target price on Newmont Mining from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, TD Securities increased their target price on Newmont Mining from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $41.53.
NEM traded down $0.08 during trading hours on Monday, hitting $33.76. 52,516 shares of the stock were exchanged, compared to its average volume of 8,203,118. Newmont Mining Corp has a 12 month low of $29.06 and a 12 month high of $41.98. The stock has a market capitalization of $18.03 billion, a PE ratio of 23.10 and a beta of 0.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.70 and a quick ratio of 4.02.
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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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