Piedmont Investment Advisors LLC Invests $1.97 Million in Newmont Mining Corp (NEM)
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.
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%.
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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.
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