State of New Jersey Common Pension Fund D Has $8.10 Million Stake in Newmont Mining Corporation (NEM)

State of New Jersey Common Pension Fund D cut its stake in Newmont Mining Corporation (NYSE:NEM) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,000 shares of the basic materials company’s stock after selling 25,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Newmont Mining Corporation were worth $8,098,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. increased its stake in shares of Newmont Mining Corporation by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 14,155 shares of the basic materials company’s stock valued at $436,000 after buying an additional 556 shares during the period. Global Thematic Partners LLC increased its stake in shares of Newmont Mining Corporation by 27.4% in the first quarter. Global Thematic Partners LLC now owns 3,169,749 shares of the basic materials company’s stock valued at $104,474,000 after buying an additional 682,390 shares during the period. James Investment Research Inc. increased its stake in shares of Newmont Mining Corporation by 0.5% in the first quarter. James Investment Research Inc. now owns 762,517 shares of the basic materials company’s stock valued at $25,133,000 after buying an additional 3,530 shares during the period. Retirement Systems of Alabama increased its stake in shares of Newmont Mining Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 464,072 shares of the basic materials company’s stock valued at $15,296,000 after buying an additional 5,354 shares during the period. Finally, Hexavest Inc. increased its stake in shares of Newmont Mining Corporation by 860.7% in the first quarter. Hexavest Inc. now owns 1,198,299 shares of the basic materials company’s stock valued at $39,496,000 after buying an additional 1,073,561 shares during the period. 81.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Mining Corporation (NEM) opened at 36.44 on Friday. The firm’s 50-day moving average price is $34.40 and its 200 day moving average price is $34.31. The company’s market capitalization is $19.43 billion. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $46.07.

Newmont Mining Corporation (NYSE:NEM) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.20. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts expect that Newmont Mining Corporation will post $1.34 earnings per share for the current fiscal year.

The business 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 dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 0.82%. Newmont Mining Corporation’s payout ratio is currently -22.22%.

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Several analysts have recently commented on the company. Zacks Investment Research raised Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective 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 price objective 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. Scotiabank increased their price objective on Newmont Mining Corporation from $43.50 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Finally, TD Securities increased their price objective on Newmont Mining Corporation from $36.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.73.

In other Newmont Mining Corporation news, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $31.80, for a total transaction of $31,800.00. Following the completion of the sale, the insider now directly owns 334,730 shares in the company, valued at approximately $10,644,414. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total transaction of $199,500.00. Following the sale, the executive vice president now owns 256,800 shares of the company’s stock, valued at $8,988,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,907 shares of company stock valued at $803,461. Company insiders own 0.32% of the company’s stock.

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

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