Caisse DE Depot ET Placement DU Quebec trimmed its holdings in Newmont Mining Corp (NYSE:NEM) by 12.7% in the 4th quarter, HoldingsChannel reports. The fund owned 146,700 shares of the basic materials company’s stock after selling 21,300 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Newmont Mining were worth $5,504,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Tiedemann Wealth Management LLC lifted its stake in shares of Newmont Mining by 66.5% in the third quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock worth $170,000 after buying an additional 5,938 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Newmont Mining in the fourth quarter worth $208,000. Brown Advisory Inc. acquired a new stake in shares of Newmont Mining in the fourth quarter worth $228,000. Tower Bridge Advisors acquired a new stake in shares of Newmont Mining in the fourth quarter worth $242,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Newmont Mining in the fourth quarter worth $250,000. 81.94% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on NEM. Scotiabank restated a “buy” rating and issued a $49.00 price objective on shares of Newmont Mining in a research note on Thursday, March 1st. ValuEngine upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Citigroup boosted their price objective on shares of Newmont Mining from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 1st. B. Riley boosted their price objective on shares of Newmont Mining from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Finally, Bank of America boosted their price objective on shares of Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Newmont Mining has an average rating of “Hold” and an average target price of $42.57.
Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Newmont Mining had a negative net margin of 1.33% and a positive return on equity of 6.52%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. equities analysts predict that Newmont Mining Corp will post 1.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be paid a dividend of $0.14 per share. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. This represents a $0.56 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 7th. Newmont Mining’s dividend payout ratio is presently 46.67%.
In related news, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total transaction of $40,230.00. Following the completion of the transaction, the insider now directly owns 156,096 shares in the company, valued at approximately $6,279,742.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $36.48, for a total transaction of $373,920.00. Following the transaction, the executive vice president now owns 71,864 shares of the company’s stock, valued at $2,621,598.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,700 shares of company stock valued at $1,242,786. Corporate insiders own 0.32% of the company’s stock.
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Newmont Mining Company Profile
Newmont Mining Corporation is a 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, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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