NGAM Advisors L.P. Increases Stake in Newmont Mining Corporation (NYSE:NEM)

NGAM Advisors L.P. increased its position in Newmont Mining Corporation (NYSE:NEM) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,957 shares of the basic materials company’s stock after buying an additional 2,145 shares during the period. NGAM Advisors L.P.’s holdings in Newmont Mining Corporation were worth $2,266,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. First Manhattan Co. boosted its stake in shares of Newmont Mining Corporation by 2.0% in the first quarter. First Manhattan Co. now owns 153,072 shares of the basic materials company’s stock valued at $6,014,000 after buying an additional 3,000 shares in the last quarter. Personal Capital Advisors Corp acquired a new stake in shares of Newmont Mining Corporation during the first quarter valued at about $408,000. Mn Services Vermogensbeheer B.V. boosted 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 in the last quarter. Global Thematic Partners LLC boosted 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 in the last quarter. Finally, James Investment Research Inc. boosted 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 in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Newmont Mining Corporation (NYSE NEM) opened at 36.53 on Friday. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $45.45. The stock has a 50 day moving average of $34.49 and a 200 day moving average of $34.32. The firm’s market capitalization is $19.48 billion.

Newmont Mining Corporation (NYSE:NEM) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.20. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate 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 firm posted $0.44 earnings per share. Analysts forecast that Newmont Mining Corporation will post $1.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, September 13th. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.82%. Newmont Mining Corporation’s payout ratio is -22.22%.

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Several analysts recently issued reports on NEM shares. Jefferies Group LLC upped their price objective on shares of Newmont Mining Corporation from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price objective on shares of Newmont Mining Corporation in a research note on Friday, April 21st. TD Securities reaffirmed a “hold” rating and set a $48.50 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Scotiabank reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Newmont Mining Corporation in a research note on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $41.73.

In related news, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total value of $199,500.00. Following the completion of the sale, the executive vice president now directly owns 256,800 shares in the company, valued at $8,988,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total transaction of $46,387.50. Following the completion of the sale, the chief operating officer now owns 90,612 shares of the company’s stock, valued at $3,362,611.32. 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. Insiders own 0.32% of the company’s stock.

About Newmont Mining Corporation

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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