First Republic Investment Management Inc. Increases Stake in Newmont Mining Corp (NEM)
First Republic Investment Management Inc. lifted its holdings in Newmont Mining Corp (NYSE:NEM) by 28.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,650 shares of the basic materials company’s stock after purchasing an additional 8,357 shares during the period. First Republic Investment Management Inc.’s holdings in Newmont Mining were worth $1,413,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in NEM. Nationwide Fund Advisors lifted its position in shares of Newmont Mining by 4.3% in the 3rd quarter. Nationwide Fund Advisors now owns 363,349 shares of the basic materials company’s stock worth $13,629,000 after purchasing an additional 14,861 shares during the period. First Trust Advisors LP lifted its position in shares of Newmont Mining by 0.9% in the 3rd quarter. First Trust Advisors LP now owns 257,659 shares of the basic materials company’s stock worth $9,665,000 after purchasing an additional 2,277 shares during the period. Korea Investment CORP lifted its position in shares of Newmont Mining by 94.0% in the 3rd quarter. Korea Investment CORP now owns 33,426 shares of the basic materials company’s stock worth $1,254,000 after purchasing an additional 16,200 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Newmont Mining during the third quarter valued at approximately $2,087,000. Finally, Parametrica Management Ltd purchased a new stake in Newmont Mining during the third quarter valued at approximately $222,000. 82.30% of the stock is owned by hedge funds and other institutional investors.
NEM has been the subject of a number of analyst reports. Deutsche Bank cut shares of Newmont Mining from a “buy” rating to a “hold” rating and decreased their target price for the company from $42.00 to $40.00 in a research report on Tuesday, January 16th. Zacks Investment Research cut shares of Newmont Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 19th. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c” rating in a research report on Friday, November 17th. BMO Capital Markets reissued a “buy” rating and set a $43.00 target price on shares of Newmont Mining in a research report on Wednesday, December 20th. Finally, Bank of America increased their target price on shares of Newmont Mining from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.40.
Newmont Mining Corp (NYSE:NEM) opened at $37.93 on Friday. The stock has a market cap of $20,330.72, a price-to-earnings ratio of -210.71 and a beta of 0.29. Newmont Mining Corp has a fifty-two week low of $31.42 and a fifty-two week high of $42.04. The company has a quick ratio of 3.14, a current ratio of 3.63 and a debt-to-equity ratio of 0.35.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.40. The business 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% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. sell-side analysts expect that Newmont Mining Corp will post 1.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. Newmont Mining’s dividend payout ratio (DPR) is currently -166.66%.
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Newmont Mining 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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