Two Sigma Advisers LP Sells 42,847 Shares of Newmont Mining Corp (NEM)
Two Sigma Advisers LP decreased its stake in Newmont Mining Corp (NYSE:NEM) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,843,940 shares of the basic materials company’s stock after selling 42,847 shares during the quarter. Two Sigma Advisers LP’s holdings in Newmont Mining were worth $69,185,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Timber Hill LLC purchased a new stake in shares of Newmont Mining in the third quarter worth about $260,000. Commonwealth Bank of Australia boosted its stake in shares of Newmont Mining by 5.7% in the third quarter. Commonwealth Bank of Australia now owns 433,082 shares of the basic materials company’s stock worth $16,239,000 after buying an additional 23,286 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Newmont Mining by 53.4% in the third quarter. Cohen & Steers Inc. now owns 108,616 shares of the basic materials company’s stock worth $4,074,000 after buying an additional 37,813 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Newmont Mining by 2.3% during the third quarter. Asset Management One Co. Ltd. now owns 974,348 shares of the basic materials company’s stock worth $36,554,000 after purchasing an additional 22,325 shares in the last quarter. Finally, KBC Group NV boosted its position in Newmont Mining by 19.0% during the third quarter. KBC Group NV now owns 77,494 shares of the basic materials company’s stock worth $2,907,000 after purchasing an additional 12,359 shares in the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.89, for a total value of $47,362.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total value of $40,230.00. Following the completion of the transaction, the insider now owns 156,096 shares in the company, valued at approximately $6,279,742.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,700 shares of company stock worth $1,242,786. Company insiders own 0.32% of the company’s stock.
Newmont Mining (NYSE:NEM) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. sell-side analysts expect that Newmont Mining Corp will post 1.43 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 7th. This is an increase from Newmont Mining’s previous quarterly dividend of $0.08. Newmont Mining’s dividend payout ratio (DPR) is -311.09%.
A number of equities analysts have issued reports on the company. TheStreet downgraded Newmont Mining from a “b-” rating to a “c+” rating in a research report on Monday. Royal Bank of Canada reiterated a “hold” rating and set a $43.00 price target on shares of Newmont Mining in a research report on Tuesday, December 5th. Scotiabank set a $48.00 price target on Newmont Mining and gave the stock a “buy” rating in a research report on Monday, January 15th. BMO Capital Markets reiterated a “buy” rating and set a $43.00 price target on shares of Newmont Mining in a research report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded Newmont Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.57.
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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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