The Newmont Mining Corp. (NEM) Stake Increased by Sumitomo Mitsui Asset Management Company LTD

The Newmont Mining Corp. (NEM) Stake Increased by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD boosted its position in Newmont Mining Corp. (NYSE:NEM) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,682 shares of the company’s stock after buying an additional 217 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Newmont Mining Corp. were worth $1,637,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NEM. Sullivan Bruyette Speros & Blaney Inc. purchased a new stake in shares of Newmont Mining Corp. during the second quarter worth about $203,000. Gyroscope Capital Management Group LLC purchased a new stake in shares of Newmont Mining Corp. during the second quarter worth about $219,000. Summit Securities Group LLC purchased a new stake in shares of Newmont Mining Corp. during the second quarter worth about $239,000. Alpha Cubed Investments LLC purchased a new stake in shares of Newmont Mining Corp. during the third quarter worth about $270,000. Finally, Frontier Wealth Management LLC purchased a new stake in shares of Newmont Mining Corp. during the second quarter worth about $272,000. Institutional investors and hedge funds own 79.51% of the company’s stock.

Shares of Newmont Mining Corp. (NYSE:NEM) opened at 35.04 on Friday. Newmont Mining Corp. has a 12 month low of $16.05 and a 12 month high of $46.07. The firm’s market capitalization is $18.60 billion. The company has a 50 day moving average of $33.34 and a 200-day moving average of $37.66.

Newmont Mining Corp. (NYSE:NEM) last issued its earnings results on Wednesday, October 26th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. Analysts predict that Newmont Mining Corp. will post $1.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were paid a dividend of $0.05 per share. This is an increase from Newmont Mining Corp.’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $0.20 annualized dividend and a yield of 0.57%. Newmont Mining Corp.’s payout ratio is presently -19.42%.

A number of equities research analysts recently issued reports on the stock. Vetr upgraded shares of Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $35.58 target price for the company in a research report on Wednesday, December 14th. Zacks Investment Research cut shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Citigroup Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, October 17th. Mackie upgraded shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $51.00 target price on shares of Newmont Mining Corp. in a research report on Tuesday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $39.08.

In other Newmont Mining Corp. news, EVP William N. Macgowan sold 2,006 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $37.53, for a total transaction of $75,285.18. Following the completion of the transaction, the executive vice president now owns 96,773 shares of the company’s stock, valued at $3,631,890.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott P. Lawson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $35.99, for a total value of $53,985.00. Following the transaction, the executive vice president now directly owns 44,795 shares of the company’s stock, valued at approximately $1,612,172.05. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

Newmont Mining Corp. Company Profile

Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.

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