First Eagle Investment Management LLC lifted its holdings in shares of Newmont Mining Corp (NYSE:NEM) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,705,007 shares of the basic materials company’s stock after buying an additional 2,153,531 shares during the quarter. First Eagle Investment Management LLC’s holdings in Newmont Mining were worth $353,491,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Natixis acquired a new position in shares of Newmont Mining during the 2nd quarter worth approximately $23,387,000. Janus Henderson Group PLC raised its stake in shares of Newmont Mining by 6.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock worth $135,716,000 after buying an additional 228,782 shares during the period. California Public Employees Retirement System raised its stake 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 buying an additional 208,625 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Newmont Mining during the 2nd quarter worth approximately $1,273,000. Finally, AGF Investments Inc. raised its stake in shares of Newmont Mining by 2.5% during the 2nd quarter. AGF Investments Inc. now owns 166,100 shares of the basic materials company’s stock worth $6,264,000 after buying an additional 4,100 shares during the period. 85.48% of the stock is owned by institutional investors and hedge funds.
Shares of NEM opened at $32.46 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.70 and a quick ratio of 4.02. Newmont Mining Corp has a one year low of $29.06 and a one year high of $42.04. The company has a market cap of $17.29 billion, a P/E ratio of 22.23 and a beta of 0.22.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s payout ratio is 38.36%.
NEM has been the subject of several research analyst reports. Credit Suisse Group set a $49.00 target price on Newmont Mining and gave the stock a “buy” rating in a research note on Friday, November 9th. BMO Capital Markets reaffirmed a “buy” rating and set a $46.00 target price on shares of Newmont Mining in a research note on Friday, September 21st. ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. TheStreet downgraded Newmont Mining from a “b-” rating to a “c” rating in a research note on Thursday, October 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $33.00 price target on shares of Newmont Mining in a research report on Monday, October 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.33.
In related news, EVP Elaine J. Dorward-King sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $90,600.00. Following the completion of the sale, the executive vice president now directly owns 102,831 shares in the company, valued at $3,105,496.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $30.53, for a total value of $38,162.50. The disclosure for this sale can be found here. Insiders have sold 21,750 shares of company stock valued at $670,690 over the last quarter. 0.36% of the stock is owned by company insiders.
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About Newmont Mining
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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