GSA Capital Partners LLP boosted its position in Newmont Mining Corp (NYSE:NEM) by 57.4% in the third quarter, HoldingsChannel reports. The firm owned 84,786 shares of the basic materials company’s stock after purchasing an additional 30,910 shares during the quarter. GSA Capital Partners LLP’s holdings in Newmont Mining were worth $2,561,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new stake in Newmont Mining during the second quarter valued at $521,000. Eqis Capital Management Inc. increased its stake in Newmont Mining by 17.8% during the second quarter. Eqis Capital Management Inc. now owns 26,885 shares of the basic materials company’s stock valued at $1,014,000 after purchasing an additional 4,056 shares during the last quarter. Dupont Capital Management Corp increased its stake in Newmont Mining by 38.7% during the second quarter. Dupont Capital Management Corp now owns 6,864 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 1,916 shares during the last quarter. Aperio Group LLC increased its stake in Newmont Mining by 5.6% during the second quarter. Aperio Group LLC now owns 435,251 shares of the basic materials company’s stock valued at $16,413,000 after purchasing an additional 23,007 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Newmont Mining during the second quarter valued at $1,273,000. 85.48% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on NEM. ValuEngine lowered shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded shares of Newmont Mining from a “sell” rating to a “hold” rating in a research note on Wednesday, November 14th. Raymond James boosted their price target on shares of Newmont Mining from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 9th. Credit Suisse Group set a $49.00 price target on shares of Newmont Mining and gave the company a “buy” rating in a report on Friday, November 9th. Finally, TD Securities boosted their price target on shares of Newmont Mining from $37.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.33.
Shares of NEM opened at $32.34 on Friday. Newmont Mining Corp has a 1 year low of $29.06 and a 1 year high of $42.04. The firm has a market cap of $17.23 billion, a PE ratio of 22.15 and a beta of 0.22. 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 (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.80 billion. On average, analysts anticipate that Newmont Mining Corp will post 1.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.73%. The ex-dividend date is Wednesday, December 5th. Newmont Mining’s payout ratio is currently 38.36%.
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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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