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.
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