Sigma Planning Corp Invests $1.74 Million in Newmont Mining Corporation (NEM) Stock
Sigma Planning Corp bought a new position in shares of Newmont Mining Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 46,492 shares of the basic materials company’s stock, valued at approximately $1,744,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deane Retirement Strategies Inc. bought a new stake in Newmont Mining Corporation during the third quarter worth $1,513,000. MUFG Securities EMEA plc bought a new stake in Newmont Mining Corporation during the second quarter worth $12,341,000. Saratoga Research & Investment Management bought a new stake in Newmont Mining Corporation during the third quarter worth $382,000. Shell Asset Management Co. lifted its stake in Newmont Mining Corporation by 173.1% during the third quarter. Shell Asset Management Co. now owns 793,199 shares of the basic materials company’s stock worth $18,283,000 after purchasing an additional 502,784 shares during the last quarter. Finally, Boyer & Corporon Wealth Management LLC lifted its stake in Newmont Mining Corporation by 9.4% during the second quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock worth $3,780,000 after purchasing an additional 10,048 shares during the last quarter. Hedge funds and other institutional investors own 80.38% of the company’s stock.
Newmont Mining Corporation (NYSE:NEM) traded up $0.19 during midday trading on Tuesday, reaching $35.71. The company had a trading volume of 4,428,400 shares, compared to its average volume of 5,482,654. The firm has a market capitalization of $19,050.00, a P/E ratio of 25.55 and a beta of 0.11. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $39.63. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33.
Newmont Mining Corporation (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Newmont Mining Corporation had a return on equity of 6.20% and a net margin of 1.18%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.38 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that Newmont Mining Corporation will post 1.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. Newmont Mining Corporation’s payout ratio is currently 42.86%.
In other Newmont Mining Corporation news, EVP E Randall Engel sold 5,700 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $207,708.00. Following the completion of the sale, the executive vice president now directly owns 122,178 shares in the company, valued at approximately $4,452,166.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.60, for a total value of $38,600.00. Following the sale, the insider now owns 334,730 shares of the company’s stock, valued at $12,920,578. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,700 shares of company stock valued at $1,042,103. Company insiders own 0.32% of the company’s stock.
Several brokerages have recently issued reports on NEM. Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price target on shares of Newmont Mining Corporation in a report on Tuesday, July 18th. Credit Suisse Group set a $45.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Scotiabank upped their price target on shares of Newmont Mining Corporation from $43.50 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. TD Securities upped their price target on shares of Newmont Mining Corporation from $36.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday, July 26th. Finally, Argus upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $40.50.
About Newmont Mining Corporation
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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