Los Angeles Capital Management & Equity Research Inc. Boosts Stake in Newmont Mining Corporation (NEM)

Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Newmont Mining Corporation (NYSE:NEM) by 36.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,236,629 shares of the basic materials company’s stock after buying an additional 329,011 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.23% of Newmont Mining Corporation worth $46,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smith Affiliated Capital Corp. raised its holdings in Newmont Mining Corporation by 8.6% in the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. Sun Life Financial INC raised its holdings in Newmont Mining Corporation by 43,144.4% in the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after buying an additional 3,883 shares during the last quarter. Parametrica Management Ltd bought a new position in Newmont Mining Corporation in the 3rd quarter valued at approximately $222,000. Veritable L.P. raised its holdings in Newmont Mining Corporation by 4.6% in the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after buying an additional 370 shares during the last quarter. Finally, Creative Planning raised its holdings in Newmont Mining Corporation by 22.3% in the 2nd quarter. Creative Planning now owns 8,761 shares of the basic materials company’s stock valued at $284,000 after buying an additional 1,598 shares during the last quarter. Institutional investors and hedge funds own 80.38% of the company’s stock.

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A number of brokerages recently issued reports on NEM. FBR & Co set a $40.00 price objective on shares of Newmont Mining Corporation and gave the company a “hold” rating in a report on Tuesday, October 31st. BidaskClub upgraded shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Newmont Mining Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet upgraded shares of Newmont Mining Corporation from a “c+” rating to a “b” rating in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $40.00 price target on shares of Newmont Mining Corporation in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Newmont Mining Corporation presently has an average rating of “Hold” and a consensus price target of $40.50.

In other Newmont Mining Corporation news, EVP E Randall Engel sold 5,700 shares of Newmont Mining Corporation stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total transaction of $207,708.00. Following the transaction, the executive vice president now directly owns 122,178 shares of the company’s stock, valued at approximately $4,452,166.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.60, for a total transaction of $38,600.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at $12,920,578. The disclosure for this sale can be found here. Insiders have sold a total of 27,700 shares of company stock worth $1,042,103 over the last ninety days. Insiders own 0.32% of the company’s stock.

Newmont Mining Corporation (NYSE:NEM) traded up $0.19 during midday trading on Tuesday, reaching $35.71. 4,428,400 shares of the company traded hands, compared to its average volume of 5,482,654. Newmont Mining Corporation has a twelve month low of $30.19 and a twelve month high of $39.63. The company has a current ratio of 4.18, a quick ratio of 3.58 and a debt-to-equity ratio of 0.33. The firm has a market cap of $19,050.00, a P/E ratio of 25.55 and a beta of 0.11.

Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. Newmont Mining Corporation’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. sell-side analysts anticipate that Newmont Mining Corporation will post 1.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, December 7th. Newmont Mining Corporation’s dividend payout ratio is 42.86%.

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.

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

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