10 15 Associates Inc. reduced its position in shares of Newmont Mining Corporation (NYSE:NEM) by 6.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,240 shares of the basic materials company’s stock after selling 7,622 shares during the period. 10 15 Associates Inc.’s holdings in Newmont Mining Corporation were worth $3,534,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Newmont Mining Corporation by 55.8% in the first quarter. Bank of New York Mellon Corp now owns 9,135,286 shares of the basic materials company’s stock worth $301,099,000 after buying an additional 3,273,420 shares during the period. Flossbach Von Storch AG increased its position in Newmont Mining Corporation by 81.7% in the first quarter. Flossbach Von Storch AG now owns 6,092,593 shares of the basic materials company’s stock worth $200,812,000 after buying an additional 2,739,440 shares during the last quarter. Norges Bank acquired a new position in Newmont Mining Corporation during the fourth quarter worth approximately $65,028,000. Vanguard Group Inc. boosted its stake in shares of Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Newmont Mining Corporation by 4.8% in the first quarter. Van ECK Associates Corp now owns 36,170,799 shares of the basic materials company’s stock worth $1,192,190,000 after buying an additional 1,656,051 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newmont Mining Corporation (NEM) opened at 33.73 on Tuesday. The company has a 50-day moving average of $33.74 and a 200 day moving average of $34.13. The stock’s market capitalization is $17.99 billion. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $46.07.
Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings data on Monday, April 24th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.73 billion. Newmont Mining Corporation had a positive return on equity of 6.24% and a negative net margin of 8.70%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. Analysts predict that Newmont Mining Corporation will post $1.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. Newmont Mining Corporation’s payout ratio is currently -16.81%.
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NEM has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 price objective (down from $37.00) on shares of Newmont Mining Corporation in a research note on Friday. Zacks Investment Research cut Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $39.00 price objective on shares of Newmont Mining Corporation in a report on Tuesday, May 30th. BidaskClub downgraded Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Finally, Scotiabank restated a “sector perform” rating and issued a $58.00 target price on shares of Newmont Mining Corporation in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.15.
In related news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $33.67, for a total value of $33,670.00. Following the completion of the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $11,270,359.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the sale, the chief operating officer now owns 91,862 shares in the company, valued at approximately $2,921,211.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,450 shares of company stock worth $519,220. 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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