James Investment Research Inc. raised its position in Newmont Mining Corp (NYSE:NEM) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 762,517 shares of the basic materials company’s stock after buying an additional 3,530 shares during the period. James Investment Research Inc. owned 0.14% of Newmont Mining Corp worth $25,133,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in Newmont Mining Corp during the third quarter worth approximately $153,000. Tuttle Tactical Management LLC acquired a new stake in Newmont Mining Corp during the third quarter worth approximately $172,000. Westport Asset Management Inc. acquired a new stake in Newmont Mining Corp during the fourth quarter worth approximately $188,000. Private Capital Advisors Inc. acquired a new stake in Newmont Mining Corp during the first quarter worth approximately $202,000. Finally, Balasa Dinverno & Foltz LLC acquired a new stake in Newmont Mining Corp during the third quarter worth approximately $207,000. 82.02% of the stock is owned by institutional investors and hedge funds.
Newmont Mining Corp (NYSE:NEM) traded up 1.37% during mid-day trading on Friday, reaching $34.13. The company’s stock had a trading volume of 7,208,067 shares. Newmont Mining Corp has a 52 week low of $30.19 and a 52 week high of $46.07. The firm’s market capitalization is $18.13 billion. The company’s 50-day moving average price is $33.66 and its 200 day moving average price is $34.52.
Newmont Mining Corp (NYSE:NEM) last announced its quarterly earnings results on Tuesday, February 21st. The basic materials company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.06. Newmont Mining Corp had a negative net margin of 6.99% and a positive return on equity of 4.94%. The company earned $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $0.04 earnings per share. Newmont Mining Corp’s revenue was up 23.2% on a year-over-year basis. On average, equities analysts forecast that Newmont Mining Corp will post $1.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Thursday, June 8th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. Newmont Mining Corp’s dividend payout ratio (DPR) is presently -19.42%.
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A number of analysts have commented on NEM shares. Vetr raised Newmont Mining Corp from a “strong sell” rating to a “buy” rating and set a $40.80 target price for the company in a report on Tuesday, February 7th. Standpoint Research upgraded Newmont Mining Corp from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Thursday, December 29th. Credit Suisse Group AG set a $47.00 price target on Newmont Mining Corp and gave the stock a “buy” rating in a research note on Saturday, March 4th. BMO Capital Markets set a $40.00 price target on Newmont Mining Corp and gave the stock a “buy” rating in a research note on Friday. Finally, Jefferies Group LLC set a $34.00 price target on Newmont Mining Corp and gave the stock a “hold” rating in a research note on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $39.63.
In other Newmont Mining Corp news, EVP E Randall Engel sold 2,356 shares of Newmont Mining Corp stock in a transaction on Monday, February 27th. The shares were sold at an average price of $35.82, for a total value of $84,391.92. Following the transaction, the executive vice president now directly owns 211,000 shares in the company, valued at $7,558,020. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corp stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $33.05, for a total transaction of $33,050.00. Following the completion of the transaction, the insider now owns 334,730 shares in the company, valued at $11,062,826.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,257 shares of company stock valued at $703,968. 0.22% of the stock is owned by corporate insiders.
About Newmont Mining Corp
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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