Carmignac Gestion raised its position in Newmont Mining Corp. (NYSE:NEM) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 13,079,898 shares of the company’s stock after buying an additional 436,300 shares during the period. Newmont Mining Corp. makes up 4.4% of Carmignac Gestion’s portfolio, making the stock its 9th largest position. Carmignac Gestion’s holdings in Newmont Mining Corp. were worth $511,686,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Smith Affiliated Capital Corp. raised its position 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 valued at $196,000 after buying an additional 3,300 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Newmont Mining Corp. during the second quarter valued at $254,000. McQueen Ball & Associates Inc. purchased a new position in Newmont Mining Corp. during the second quarter valued at $259,000. Rothschild Investment Corp IL purchased a new position in Newmont Mining Corp. during the second quarter valued at $284,000. Finally, Advisor Partners LLC purchased a new position in Newmont Mining Corp. during the first quarter valued at $203,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.
Newmont Mining Corp. (NYSE:NEM) traded down 0.41% on Thursday, reaching $39.05. The company had a trading volume of 4,167,051 shares. The company has a 50-day moving average of $41.07 and a 200 day moving average of $36.26. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 527.70 and a beta of 0.22. Newmont Mining Corp. has a one year low of $15.75 and a one year high of $46.07.
Newmont Mining Corp. (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.14. The company earned $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. On average, 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. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.26%. Newmont Mining Corp.’s dividend payout ratio (DPR) is presently 166.69%.
Several research firms have recently weighed in on NEM. Morgan Stanley reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Newmont Mining Corp. in a research note on Tuesday, August 16th. Barclays PLC lifted their price objective on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Citigroup Inc. reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a research note on Thursday, August 18th. Zacks Investment Research lowered Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Vetr lowered Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 price objective on the stock. in a research note on Tuesday, September 6th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$37.47.
In related news, EVP E Randall Engel sold 8,700 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total transaction of C$370,185.00. Following the completion of the sale, the executive vice president now owns 219,389 shares in the company, valued at approximately C$9,335,001.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 98,779 shares of the company’s stock, valued at approximately C$4,440,116.05. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
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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