Teachers Advisors LLC Increases Position in Newmont Mining Corporation (NEM)

Teachers Advisors LLC boosted its position in shares of Newmont Mining Corporation (NYSE:NEM) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,104,319 shares of the basic materials company’s stock after buying an additional 10,422 shares during the quarter. Teachers Advisors LLC owned 0.21% of Newmont Mining Corporation worth $35,769,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in Newmont Mining Corporation during the second quarter valued at about $12,341,000. Envestnet Asset Management Inc. boosted its stake in Newmont Mining Corporation by 23.8% during the first quarter. Envestnet Asset Management Inc. now owns 67,558 shares of the basic materials company’s stock valued at $2,228,000 after buying an additional 12,979 shares in the last quarter. Sprott Inc. boosted its stake in Newmont Mining Corporation by 32.9% during the first quarter. Sprott Inc. now owns 533,078 shares of the basic materials company’s stock valued at $17,570,000 after buying an additional 131,897 shares in the last quarter. Boyer & Corporon Wealth Management LLC boosted its stake in Newmont Mining Corporation by 9.4% during the second quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock valued at $3,780,000 after buying an additional 10,048 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Newmont Mining Corporation by 3.3% during the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock valued at $1,744,405,000 after buying an additional 1,671,897 shares in the last quarter. 81.08% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on NEM. Royal Bank Of Canada set a $41.00 target price on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Monday, August 28th. Zacks Investment Research raised Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Monday, July 31st. Argus raised Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, July 27th. BidaskClub raised Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets set a $40.00 target price on Newmont Mining Corporation and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $40.96.

In other Newmont Mining Corporation news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.60, for a total value of $48,250.00. Following the completion of the transaction, the chief operating officer now directly owns 89,362 shares of the company’s stock, valued at $3,449,373.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.60, for a total value of $38,600.00. Following the completion of the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at $12,920,578. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,457 shares of company stock valued at $526,861. Insiders own 0.32% of the company’s stock.

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Shares of Newmont Mining Corporation (NEM) opened at 37.78 on Tuesday. The company has a 50-day moving average price of $37.26 and a 200 day moving average price of $34.55. The stock’s market capitalization is $20.15 billion. Newmont Mining Corporation has a 52 week low of $30.19 and a 52 week high of $41.97.

Newmont Mining Corporation (NYSE:NEM) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.20. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Analysts forecast that Newmont Mining Corporation will post $1.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.79%. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 13th. Newmont Mining Corporation’s payout ratio is presently -33.33%.

Newmont Mining Corporation Profile

Newmont Mining Corporation is a 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, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.

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

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