Newmont Mining Corp. (NEM) Stake Raised by First Eagle Investment Management LLC
First Eagle Investment Management LLC raised its position in shares of Newmont Mining Corp. (NYSE:NEM) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,623,421 shares of the company’s stock after buying an additional 185,115 shares during the period. First Eagle Investment Management LLC’s holdings in Newmont Mining Corp. were worth $63,784,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. First Midwest Bank Trust Division purchased a new stake in Newmont Mining Corp. during the third quarter worth approximately $1,119,000. Prudential Financial Inc. increased its stake in Newmont Mining Corp. by 157.3% in the third quarter. Prudential Financial Inc. now owns 3,556,018 shares of the company’s stock worth $139,716,000 after buying an additional 2,173,815 shares during the last quarter. Ngam Advisors L.P. increased its stake in Newmont Mining Corp. by 2.5% in the third quarter. Ngam Advisors L.P. now owns 73,695 shares of the company’s stock worth $2,895,000 after buying an additional 1,817 shares during the last quarter. Sentry Investment Management LLC increased its stake in Newmont Mining Corp. by 2.5% in the third quarter. Sentry Investment Management LLC now owns 40,897 shares of the company’s stock worth $1,607,000 after buying an additional 1,000 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in Newmont Mining Corp. by 52.0% in the third quarter. Global X Management Co. LLC now owns 21,613 shares of the company’s stock worth $849,000 after buying an additional 7,398 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.
Shares of Newmont Mining Corp. (NYSE:NEM) opened at 32.92 on Tuesday. The stock has a 50 day moving average price of $34.98 and a 200 day moving average price of $37.97. The stock’s market cap is $17.47 billion. Newmont Mining Corp. has a 12 month low of $16.05 and a 12 month high of $46.07.
Newmont Mining Corp. (NYSE:NEM) last issued its earnings results on Wednesday, October 26th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The business earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. Equities analysts anticipate that Newmont Mining Corp. will post $1.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, December 6th. This is a boost from Newmont Mining Corp.’s previous quarterly dividend of $0.03. Newmont Mining Corp.’s dividend payout ratio (DPR) is -9.71%.
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NEM has been the topic of a number of research analyst reports. Citigroup Inc. initiated coverage on Newmont Mining Corp. in a research report on Tuesday, August 2nd. They set a “buy” rating and a $44.00 target price on the stock. Barclays PLC upped their price objective on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Morgan Stanley started coverage on Newmont Mining Corp. in a research report on Tuesday, August 9th. They issued an “equal weight” rating and a $41.00 price objective on the stock. Zacks Investment Research downgraded Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, Vetr upgraded Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $47.47 price objective on the stock in a research report on Wednesday, August 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Newmont Mining Corp. has an average rating of “Buy” and an average price target of $38.65.
In other news, EVP William N. Macgowan sold 2,006 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $37.53, for a total value of $75,285.18. Following the completion of the sale, the executive vice president now owns 96,773 shares of the company’s stock, valued at $3,631,890.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott P. Lawson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $35.99, for a total value of $53,985.00. Following the completion of the sale, the executive vice president now directly owns 44,795 shares of the company’s stock, valued at approximately $1,612,172.05. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
Newmont Mining Corp. Company Profile
Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.
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