Boston Partners boosted its holdings in shares of Newmont Mining Co. (NYSE:NEM) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,976 shares of the basic materials company’s stock after buying an additional 2,033 shares during the quarter. Boston Partners’ holdings in Newmont Mining were worth $1,992,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. MetLife Investment Advisors LLC acquired a new position in Newmont Mining during the fourth quarter worth $6,191,000. Alliancebernstein L.P. increased its position in Newmont Mining by 120.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,386,160 shares of the basic materials company’s stock worth $89,529,000 after buying an additional 1,306,175 shares during the last quarter. American International Group Inc. increased its position in Newmont Mining by 14.9% during the fourth quarter. American International Group Inc. now owns 182,639 shares of the basic materials company’s stock worth $6,853,000 after buying an additional 23,655 shares during the last quarter. QS Investors LLC increased its position in Newmont Mining by 102.3% during the fourth quarter. QS Investors LLC now owns 35,652 shares of the basic materials company’s stock worth $1,338,000 after buying an additional 18,026 shares during the last quarter. Finally, Global Thematic Partners LLC increased its position in Newmont Mining by 44.2% during the fourth quarter. Global Thematic Partners LLC now owns 4,103,076 shares of the basic materials company’s stock worth $153,947,000 after buying an additional 1,258,566 shares during the last quarter. 83.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. TheStreet raised Newmont Mining from a “c+” rating to a “b” rating in a research report on Thursday, April 26th. Deutsche Bank raised their price target on Newmont Mining from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, April 11th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $44.00 price target on shares of Newmont Mining in a research report on Wednesday, April 4th. BMO Capital Markets set a $46.00 price target on Newmont Mining and gave the company a “buy” rating in a research report on Wednesday, March 28th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $49.00 price target on shares of Newmont Mining in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Newmont Mining presently has a consensus rating of “Hold” and an average price target of $42.93.
Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, April 26th. The basic materials company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Newmont Mining had a net margin of 0.64% and a return on equity of 7.01%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. sell-side analysts anticipate that Newmont Mining Co. will post 1.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, June 6th. Newmont Mining’s payout ratio is presently 38.36%.
In other Newmont Mining news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $38.06, for a total transaction of $38,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William N. Macgowan sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $38.89, for a total transaction of $194,450.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,500 shares of company stock valued at $794,165. 0.36% of the stock is owned by corporate insiders.
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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