Cabot Wealth Management Inc. Has $4.91 Million Stake in Newmont Mining Corp (NEM)

Cabot Wealth Management Inc. cut its stake in Newmont Mining Corp (NYSE:NEM) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,510 shares of the basic materials company’s stock after selling 10,548 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Newmont Mining were worth $4,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its stake in shares of Newmont Mining by 3.3% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 79,042 shares of the basic materials company’s stock worth $2,387,000 after purchasing an additional 2,549 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Newmont Mining by 2.4% in the third quarter. Arizona State Retirement System now owns 421,927 shares of the basic materials company’s stock valued at $12,742,000 after acquiring an additional 9,790 shares in the last quarter. Adams Natural Resources Fund Inc. grew its holdings in shares of Newmont Mining by 24.4% in the third quarter. Adams Natural Resources Fund Inc. now owns 73,500 shares of the basic materials company’s stock valued at $2,220,000 after acquiring an additional 14,400 shares in the last quarter. GWM Advisors LLC grew its holdings in shares of Newmont Mining by 16.3% in the third quarter. GWM Advisors LLC now owns 12,100 shares of the basic materials company’s stock valued at $365,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in shares of Newmont Mining in the third quarter valued at approximately $226,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $30.20, for a total transaction of $37,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nancy Buese sold 2,000 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.20, for a total value of $60,400.00. Following the transaction, the chief financial officer now directly owns 86,577 shares of the company’s stock, valued at $2,614,625.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,500 shares of company stock valued at $347,713. 0.36% of the stock is owned by corporate insiders.



Several equities analysts have recently issued reports on NEM shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $46.00 target price on shares of Newmont Mining in a report on Friday, September 21st. TheStreet lowered Newmont Mining from a “b-” rating to a “c” rating in a report on Thursday, October 4th. Canaccord Genuity reaffirmed a “hold” rating and issued a $37.00 target price on shares of Newmont Mining in a report on Monday, October 22nd. ValuEngine lowered Newmont Mining from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Finally, Deutsche Bank set a $37.00 target price on Newmont Mining and gave the company a “hold” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.79.

Shares of NYSE NEM opened at $31.00 on Wednesday. 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 $15.98 billion, a price-to-earnings ratio of 21.23 and a beta of 0.24. 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 data on Thursday, October 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating the 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.80 billion. Analysts anticipate that Newmont Mining Corp will post 1.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s dividend payout ratio (DPR) is 38.36%.

Newmont Mining Company 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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Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

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