Newmont Mining Corp (NEM) Shares Bought by Pinebridge Investments L.P.
Pinebridge Investments L.P. grew its holdings in shares of Newmont Mining Corp (NYSE:NEM) by 3,875.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,821 shares of the basic materials company’s stock after buying an additional 15,423 shares during the period. Pinebridge Investments L.P.’s holdings in Newmont Mining were worth $593,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nationwide Fund Advisors grew its stake in Newmont Mining by 4.3% in the third 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 grew its stake in Newmont Mining by 0.9% in the third 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 grew its stake in Newmont Mining by 94.0% in the third 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 in the third quarter worth $2,087,000. Finally, Parametrica Management Ltd purchased a new stake in Newmont Mining in the third quarter worth $222,000. 82.30% of the stock is currently owned by hedge funds and other institutional investors.
NEM has been the topic of several recent research reports. Bank of America upped their price target on Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Scotiabank set a $48.00 price target on Newmont Mining and gave the stock a “buy” rating in a research note on Monday, January 15th. BMO Capital Markets reaffirmed a “buy” rating and issued a $43.00 price target on shares of Newmont Mining in a research note on Wednesday, December 20th. Zacks Investment Research raised Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Friday, February 9th. Finally, ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.40.
Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. equities research analysts anticipate that Newmont Mining Corp will post 1.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a $0.14 dividend. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 7th. Newmont Mining’s dividend payout ratio is currently -166.66%.
In other news, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $40.23, for a total transaction of $229,311.00. Following the transaction, the executive vice president now directly owns 239,700 shares of the company’s stock, valued at $9,643,131. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 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 value of $50,287.50. Following the transaction, the chief operating officer now directly owns 83,112 shares in the company, valued at $3,343,595.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,450 shares of company stock worth $967,601. 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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