Traders Buy Shares of Newmont Mining (NEM) on Weakness

Investors purchased shares of Newmont Mining Corp (NYSE:NEM) on weakness during trading hours on Thursday. $95.82 million flowed into the stock on the tick-up and $38.33 million flowed out of the stock on the tick-down, for a money net flow of $57.49 million into the stock. Of all equities tracked, Newmont Mining had the 30th highest net in-flow for the day. Newmont Mining traded down ($0.42) for the day and closed at $36.61

A number of research analysts have issued reports on the stock. B. Riley reaffirmed a “neutral” rating on shares of Newmont Mining in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday. BMO Capital Markets set a $45.00 price target on shares of Newmont Mining and gave the company a “buy” rating in a research report on Tuesday, November 14th. FBR & Co set a $40.00 price target on shares of Newmont Mining and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $43.00 price target on shares of Newmont Mining in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Newmont Mining has an average rating of “Hold” and an average target price of $41.80.

The stock has a market cap of $19,690.00, a PE ratio of 52.51 and a beta of 0.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18.

In related news, EVP E Randall Engel sold 5,700 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 transaction of $229,311.00. Following the sale, the executive vice president now owns 239,700 shares in the company, valued at $9,643,131. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $36.98, for a total transaction of $36,980.00. Following the sale, the insider now owns 334,730 shares in the company, valued at approximately $12,378,315.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,700 shares of company stock worth $1,050,806. 0.32% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NEM. BlackRock Inc. boosted its position in Newmont Mining by 6.1% during the fourth quarter. BlackRock Inc. now owns 77,637,045 shares of the basic materials company’s stock worth $2,912,946,000 after acquiring an additional 4,440,876 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Newmont Mining by 159.2% during the third quarter. First Eagle Investment Management LLC now owns 4,207,739 shares of the basic materials company’s stock worth $157,832,000 after acquiring an additional 2,584,318 shares during the last quarter. Global Thematic Partners LLC boosted its position in Newmont Mining by 44.2% during the fourth quarter. Global Thematic Partners LLC now owns 4,103,076 shares of the basic materials company’s stock worth $153,947,000 after acquiring an additional 1,258,566 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Newmont Mining during the third quarter worth approximately $44,652,000. Finally, Bank of New York Mellon Corp boosted its position in Newmont Mining by 12.2% during the third quarter. Bank of New York Mellon Corp now owns 10,596,020 shares of the basic materials company’s stock worth $397,458,000 after acquiring an additional 1,150,995 shares during the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.

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Newmont Mining Company Profile

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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