Wilkins Investment Counsel Inc. lifted its stake in Newmont Mining Co. (NYSE:NEM) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 359,285 shares of the basic materials company’s stock after acquiring an additional 2,550 shares during the period. Newmont Mining comprises about 4.4% of Wilkins Investment Counsel Inc.’s holdings, making the stock its 2nd biggest position. Wilkins Investment Counsel Inc.’s holdings in Newmont Mining were worth $14,037,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Newmont Mining by 6.1% in the 4th quarter. BlackRock Inc. now owns 77,637,045 shares of the basic materials company’s stock valued at $2,912,946,000 after purchasing an additional 4,440,876 shares during the last quarter. Flossbach Von Storch AG increased its holdings in Newmont Mining by 16.8% in the 1st quarter. Flossbach Von Storch AG now owns 9,930,898 shares of the basic materials company’s stock worth $388,000,000 after buying an additional 1,430,627 shares during the period. First Eagle Investment Management LLC increased its holdings in Newmont Mining by 115.5% in the 1st quarter. First Eagle Investment Management LLC now owns 9,584,767 shares of the basic materials company’s stock worth $374,477,000 after buying an additional 5,137,612 shares during the period. Geode Capital Management LLC increased its holdings in Newmont Mining by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 6,378,102 shares of the basic materials company’s stock worth $238,856,000 after buying an additional 410,435 shares during the period. Finally, Swiss National Bank increased its holdings in Newmont Mining by 2.5% in the 1st quarter. Swiss National Bank now owns 4,871,232 shares of the basic materials company’s stock worth $190,319,000 after buying an additional 120,200 shares during the period. 83.03% of the stock is owned by hedge funds and other institutional investors.
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In other news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $38.06, for a total transaction of $38,060.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William N. Macgowan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $38.89, for a total transaction of $194,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,500 shares of company stock worth $794,165 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.
Several equities analysts recently weighed in on the stock. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c+” rating in a report on Monday, March 12th. Zacks Investment Research downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Royal Bank of Canada downgraded shares of Newmont Mining from a “sector perform” rating to an “underperform” rating and increased their price target for the stock from $37.71 to $43.00 in a report on Monday, March 12th. They noted that the move was a valuation call. ValuEngine upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Bank of America increased their price target on shares of Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Newmont Mining has a consensus rating of “Hold” and a consensus price target of $42.93.
Shares of Newmont Mining opened at $39.16 on Friday, according to Marketbeat Ratings. The company has a market cap of $20.89 billion, a PE ratio of 26.82 and a beta of 0.29. Newmont Mining Co. has a 12 month low of $31.42 and a 12 month high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.62 and a current ratio of 4.18.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 26th. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Newmont Mining had a net margin of 0.64% and a return on equity of 7.01%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. analysts forecast that Newmont Mining Co. will post 1.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.43%. Newmont Mining’s payout ratio is 38.36%.
Newmont Mining Profile
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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