Newmont Mining Corp (NEM) Shares Sold by Axa

Axa cut its position in shares of Newmont Mining Corp (NYSE:NEM) by 18.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,973 shares of the basic materials company’s stock after selling 25,498 shares during the period. Axa’s holdings in Newmont Mining were worth $3,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Private Advisor Group LLC bought a new stake in Newmont Mining during the 3rd quarter valued at $225,000. Levin Capital Strategies L.P. bought a new stake in Newmont Mining during the 3rd quarter valued at $226,000. Dupont Capital Management Corp raised its position in Newmont Mining by 38.7% during the 2nd 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Newmont Mining in the 2nd quarter worth $273,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Newmont Mining in the 2nd quarter worth $335,000. 85.48% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $90,600.00. Following the transaction, the executive vice president now directly owns 102,831 shares of the company’s stock, valued at approximately $3,105,496.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $37,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,750 shares of company stock worth $670,690 over the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

NEM has been the subject of several recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $33.00 price target on shares of Newmont Mining in a research report on Monday, October 8th. Zacks Investment Research lowered Newmont Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, October 8th. Raymond James reduced their price target on Newmont Mining from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Barclays initiated coverage on Newmont Mining in a research report on Wednesday, October 10th. They issued an “overweight” rating and a $34.00 price target for the company. Finally, Canaccord Genuity reissued a “hold” rating and issued a $37.00 price target on shares of Newmont Mining in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Newmont Mining presently has an average rating of “Hold” and a consensus price target of $41.33.

Shares of NYSE:NEM opened at $32.34 on Monday. Newmont Mining Corp has a 1 year low of $29.06 and a 1 year high of $42.04. The stock has a market cap of $17.23 billion, a P/E ratio of 22.15 and a beta of 0.22. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36.

Newmont Mining (NYSE:NEM) last announced its earnings results on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.11. Newmont Mining had a positive return on equity of 6.19% and a negative net margin of 2.63%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.80 billion. Research analysts expect that Newmont Mining Corp will post 1.23 EPS for the current fiscal year.

The firm also recently announced 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 yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s dividend 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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Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

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