Cabot Wealth Management Inc. Raises Stake in Newmont Mining Corporation (NYSE:NEM)

Cabot Wealth Management Inc. increased its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 2.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 159,758 shares of the basic materials company’s stock after buying an additional 3,789 shares during the period. Cabot Wealth Management Inc.’s holdings in Newmont Mining Corporation were worth $5,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cleararc Capital Inc. boosted its position in Newmont Mining Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 12,988 shares of the basic materials company’s stock valued at $428,000 after buying an additional 73 shares in the last quarter. Advisor Partners LLC boosted its position in Newmont Mining Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 11,349 shares of the basic materials company’s stock valued at $374,000 after buying an additional 84 shares in the last quarter. Parkwood LLC boosted its position in Newmont Mining Corporation by 0.9% in the first quarter. Parkwood LLC now owns 19,149 shares of the basic materials company’s stock valued at $631,000 after buying an additional 170 shares in the last quarter. P.R. Herzig & Co. Inc. boosted its position in Newmont Mining Corporation by 0.5% in the first quarter. P.R. Herzig & Co. Inc. now owns 43,100 shares of the basic materials company’s stock valued at $1,421,000 after buying an additional 200 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its position in Newmont Mining Corporation by 0.4% in the first quarter. Advantus Capital Management Inc now owns 53,529 shares of the basic materials company’s stock valued at $1,764,000 after buying an additional 224 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

Shares of Newmont Mining Corporation (NYSE NEM) traded down 0.61% during midday trading on Friday, reaching $35.83. 7,433,051 shares of the company were exchanged. The stock has a 50-day moving average price of $34.88 and a 200 day moving average price of $34.36. The company’s market capitalization is $19.11 billion. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $43.83.

Newmont Mining Corporation (NYSE:NEM) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.26 by $0.20. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. Equities research analysts expect that Newmont Mining Corporation will post $1.34 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a $0.075 dividend. The ex-dividend date is Wednesday, September 13th. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. Newmont Mining Corporation’s payout ratio is presently -22.22%.

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Several brokerages have issued reports on NEM. BidaskClub raised shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Raymond James Financial, Inc. began coverage on shares of Newmont Mining Corporation in a research note on Thursday, June 15th. They set an “outperform” rating and a $43.00 target price on the stock. Royal Bank Of Canada set a $40.00 target price on shares of Newmont Mining Corporation and gave the company a “hold” rating in a research note on Monday, June 12th. Finally, Scotiabank raised shares of Newmont Mining Corporation from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $43.00 to $43.50 in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $41.78.

In other news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $31.80, for a total value of $39,750.00. Following the completion of the transaction, the chief operating officer now directly owns 91,862 shares in the company, valued at approximately $2,921,211.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $199,500.00. Following the completion of the transaction, 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. Insiders sold a total of 22,907 shares of company stock valued at $803,461 over the last 90 days. Corporate 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.

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

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