Macquarie Group Ltd. trimmed its position in shares of Newmont Mining Corp (NYSE:NEM) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,900 shares of the basic materials company’s stock after selling 1,100 shares during the period. Macquarie Group Ltd.’s holdings in Newmont Mining were worth $274,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Archford Capital Strategies LLC increased its holdings in Newmont Mining by 66.7% in the 4th quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 300 shares during the last quarter. First Mercantile Trust Co. increased its holdings in Newmont Mining by 70.2% in the 4th quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 330 shares during the last quarter. Bessemer Group Inc. increased its holdings in Newmont Mining by 377.3% in the 4th quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 664 shares during the last quarter. Berman Capital Advisors LLC bought a new stake in Newmont Mining in the 4th quarter valued at $30,000. Finally, We Are One Seven LLC bought a new stake in Newmont Mining in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.
In related news, EVP Scott P. Lawson sold 5,000 shares of Newmont Mining stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.81, for a total transaction of $179,050.00. Following the completion of the transaction, the executive vice president now directly owns 133,545 shares of the company’s stock, valued at approximately $4,782,246.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.85, for a total transaction of $143,400.00. Following the transaction, the chief executive officer now directly owns 129,680 shares of the company’s stock, valued at $4,649,028. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,850 shares of company stock valued at $1,469,194. 0.36% of the stock is owned by corporate insiders.
Shares of NYSE:NEM opened at $36.17 on Tuesday. Newmont Mining Corp has a 52 week low of $29.06 and a 52 week high of $41.96. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of 26.79 and a beta of 0.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.95 and a quick ratio of 2.60.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings data 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 net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the company posted $0.39 EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts expect that Newmont Mining Corp will post 1.33 EPS for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, April 16th. This represents a dividend yield of 1.57%. Newmont Mining’s dividend payout ratio is presently 41.48%.
NEM has been the topic of a number of research reports. ValuEngine downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Raymond James reduced their price target on shares of Newmont Mining from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, March 5th. Canaccord Genuity upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and lifted their price target for the company from $37.00 to $42.00 in a report on Tuesday, January 15th. Barclays lifted their price target on shares of Newmont Mining from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Newmont Mining in a research note on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Newmont Mining presently has an average rating of “Hold” and a consensus target price of $40.49.
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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.
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