Investors sold shares of Newmont Mining Co. (NYSE:NEM) on strength during trading on Friday. $31.72 million flowed into the stock on the tick-up and $56.01 million flowed out of the stock on the tick-down, for a money net flow of $24.29 million out of the stock. Of all equities tracked, Newmont Mining had the 25th highest net out-flow for the day. Newmont Mining traded up $1.20 for the day and closed at $41.60
Several research analysts recently issued reports on NEM shares. Deutsche Bank cut shares of Newmont Mining from a “buy” rating to a “hold” rating and reduced their target price for the stock from $42.00 to $40.00 in a report on Tuesday, January 16th. Bank of America raised their target price on shares of Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Zacks Investment Research cut shares of Newmont Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, January 19th. BMO Capital Markets reissued a “buy” rating and set a $43.00 target price on shares of Newmont Mining in a report on Wednesday, December 20th. Finally, Scotiabank set a $48.00 target price on shares of Newmont Mining and gave the stock a “buy” rating in a report on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.93.
The company has a current ratio of 3.63, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35. The firm has a market cap of $21,680.42, a price-to-earnings ratio of 28.49 and a beta of 0.25.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were issued a $0.14 dividend. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 7th. This represents a $0.56 dividend on an annualized basis and a yield of 1.35%. Newmont Mining’s payout ratio is presently 38.36%.
In other news, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $40.23, for a total value of $40,230.00. Following the sale, the insider now owns 156,096 shares in the company, valued at $6,279,742.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $39.31, for a total transaction of $157,240.00. The disclosure for this sale can be found here. Insiders sold 23,450 shares of company stock valued at $919,544 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Premia Global Advisors LLC acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $139,000. Exane Derivatives acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $208,000. Brown Advisory Inc. acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $228,000. Tower Bridge Advisors acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $242,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Newmont Mining in the fourth quarter valued at about $250,000. Institutional investors and hedge funds own 82.29% of the company’s stock.
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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