Piedmont Investment Advisors LLC bought a new stake in Newmont Mining Corp (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,548 shares of the basic materials company’s stock, valued at approximately $1,971,000.

Several other institutional investors have also recently bought and sold shares of NEM. Timber Hill LLC acquired a new stake in Newmont Mining during the third quarter worth approximately $260,000. Deane Retirement Strategies Inc. acquired a new stake in Newmont Mining during the third quarter worth approximately $1,513,000. MUFG Securities EMEA plc acquired a new stake in Newmont Mining during the second quarter worth approximately $12,341,000. Saratoga Research & Investment Management acquired a new stake in Newmont Mining during the third quarter worth approximately $382,000. Finally, Gabelli Funds LLC grew its position in Newmont Mining by 3.7% during the third quarter. Gabelli Funds LLC now owns 2,731,471 shares of the basic materials company’s stock worth $102,457,000 after buying an additional 97,300 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

In other news, EVP Elaine J. Dorward-King sold 10,250 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total value of $392,267.50. Following the completion of the transaction, the executive vice president now directly owns 82,114 shares in the company, valued at approximately $3,142,502.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $36.98, for a total value of $46,225.00. Following the completion of the transaction, the chief operating officer now owns 85,612 shares of the company’s stock, valued at $3,165,931.76. The disclosure for this sale can be found here. Insiders sold a total of 27,700 shares of company stock valued at $1,038,458 over the last quarter. 0.32% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on NEM. FBR & Co set a $40.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Royal Bank of Canada reissued a “hold” rating and set a $43.00 price target on shares of Newmont Mining in a research report on Tuesday, December 5th. Zacks Investment Research downgraded Newmont Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Finally, TD Securities set a $42.00 target price on Newmont Mining and gave the stock a “hold” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.74.

Newmont Mining Corp (NYSE NEM) traded up $0.15 during midday trading on Friday, reaching $35.90. The company’s stock had a trading volume of 4,415,000 shares, compared to its average volume of 5,427,649. 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 Corp has a 12-month low of $30.40 and a 12-month high of $39.63. The company has a market capitalization of $19,066.78, a PE ratio of 25.72 and a beta of 0.10.

Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Newmont Mining 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 analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. equities research analysts expect that Newmont Mining Corp will post 1.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, December 7th. Newmont Mining’s payout ratio is 200.00%.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/12/15/piedmont-investment-advisors-llc-invests-1-97-million-in-newmont-mining-corp-nem.html.

About Newmont Mining

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Mining Corp (NYSE:NEM).

Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

Receive News & Stock Ratings for Newmont Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining and related stocks with our FREE daily email newsletter.