Newmont Mining Corp (NEM) Shares Sold by Schroder Investment Management Group
Schroder Investment Management Group cut its holdings in shares of Newmont Mining Corp (NYSE:NEM) by 26.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,935 shares of the basic materials company’s stock after selling 70,555 shares during the quarter. Schroder Investment Management Group’s holdings in Newmont Mining were worth $7,139,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in shares of Newmont Mining by 245.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 12,394 shares of the basic materials company’s stock worth $467,000 after purchasing an additional 8,802 shares during the period. Global X Management Co LLC grew its holdings in shares of Newmont Mining by 25.1% during the 2nd quarter. Global X Management Co LLC now owns 34,498 shares of the basic materials company’s stock worth $1,301,000 after purchasing an additional 6,913 shares during the period. Bank of Nova Scotia grew its holdings in shares of Newmont Mining by 394.2% during the 2nd quarter. Bank of Nova Scotia now owns 477,948 shares of the basic materials company’s stock worth $18,024,000 after purchasing an additional 381,238 shares during the period. Verition Fund Management LLC grew its holdings in shares of Newmont Mining by 94.9% during the 2nd quarter. Verition Fund Management LLC now owns 66,938 shares of the basic materials company’s stock worth $2,524,000 after purchasing an additional 32,586 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Newmont Mining by 15.0% during the 2nd quarter. California Public Employees Retirement System now owns 1,600,820 shares of the basic materials company’s stock worth $60,367,000 after purchasing an additional 208,625 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.
Shares of Newmont Mining stock opened at $32.11 on Thursday. Newmont Mining Corp has a 12 month low of $29.16 and a 12 month high of $42.04. The stock has a market cap of $16.11 billion, a P/E ratio of 21.99 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Wednesday, September 12th. Newmont Mining’s dividend payout ratio is currently 38.36%.
A number of research firms have recently weighed in on NEM. ValuEngine cut Newmont Mining from a “buy” rating to a “hold” rating in a report on Monday, July 30th. BMO Capital Markets restated a “buy” rating and set a $46.00 target price on shares of Newmont Mining in a report on Friday, September 21st. Jefferies Financial Group restated a “hold” rating and set a $33.00 target price on shares of Newmont Mining in a report on Monday, October 8th. JPMorgan Chase & Co. lowered their target price on Newmont Mining from $47.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, September 17th. Finally, TheStreet cut Newmont Mining from a “b-” rating to a “c” rating in a report on Thursday, October 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Newmont Mining currently has a consensus rating of “Hold” and an average target price of $40.86.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $30.53, for a total value of $38,162.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nancy Buese sold 2,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $60,400.00. Following the completion of the sale, the chief financial officer now directly owns 86,577 shares in the company, valued at approximately $2,614,625.40. The disclosure for this sale can be found here. Insiders sold a total of 20,500 shares of company stock worth $675,763 in the last ninety days. 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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