Essex Investment Management Co. LLC cut its position in Newmont Mining Corp. (NYSE:NEM) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 104,968 shares of the company’s stock after selling 3,024 shares during the period. Essex Investment Management Co. LLC’s holdings in Newmont Mining Corp. were worth $4,106,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Smith Affiliated Capital Corp. raised its stake in Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock worth $196,000 after buying an additional 3,300 shares in the last quarter. Advisor Partners LLC purchased a new stake in Newmont Mining Corp. during the first quarter worth approximately $203,000. Cypress Capital Management LLC purchased a new stake in Newmont Mining Corp. during the first quarter worth approximately $205,000. Quadrature Capital Ltd purchased a new stake in Newmont Mining Corp. during the first quarter worth approximately $213,000. Finally, Marietta Investment Partners LLC purchased a new stake in Newmont Mining Corp. during the first quarter worth approximately $243,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.
Newmont Mining Corp. (NYSE:NEM) traded up 1.90% during trading on Wednesday, reaching $39.21. 4,896,198 shares of the company’s stock traded hands. The company has a 50 day moving average of $41.23 and a 200 day moving average of $36.24. Newmont Mining Corp. has a one year low of $15.56 and a one year high of $46.07. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 529.86 and a beta of 0.22.
Newmont Mining Corp. (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. Newmont Mining Corp.’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. Equities research analysts predict that Newmont Mining Corp. will post $1.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Tuesday, September 13th. Newmont Mining Corp.’s dividend payout ratio is currently 166.69%.
NEM has been the subject of a number of recent analyst reports. Jefferies Group lowered shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating and lowered their price target for the company from $38.00 to $33.00 in a report on Thursday, June 2nd. Vetr lowered shares of Newmont Mining Corp. from a “buy” rating to a “hold” rating and set a $35.29 price target for the company. in a report on Monday, June 6th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a report on Monday, June 27th. BMO Capital Markets reiterated an “outperform” rating and set a $45.00 price target on shares of Newmont Mining Corp. in a report on Tuesday, July 5th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $44.00 price target (up from $38.00) on shares of Newmont Mining Corp. in a report on Wednesday, July 6th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of C$37.47.
In other Newmont Mining Corp. news, EVP E Randall Engel sold 8,700 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total value of C$370,185.00. Following the sale, the executive vice president now owns 219,389 shares of the company’s stock, valued at approximately C$9,335,001.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of C$44.95, for a total value of C$365,668.25. Following the completion of the sale, the executive vice president now directly owns 98,779 shares in the company, valued at approximately C$4,440,116.05. The disclosure for this sale can be found here. 0.22% of the stock is owned by company 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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