Foster & Motley Inc. decreased its position in Newmont Mining Corporation (NYSE:NEM) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,877 shares of the basic materials company’s stock after selling 5,412 shares during the period. Foster & Motley Inc.’s holdings in Newmont Mining Corporation were worth $2,166,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of NEM. Kentucky Retirement Systems acquired a new stake in Newmont Mining Corporation during the fourth quarter worth about $1,312,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Newmont Mining Corporation during the fourth quarter valued at $585,000. Rathbone Brothers plc boosted its position in shares of Newmont Mining Corporation by 7.6% in the first quarter. Rathbone Brothers plc now owns 139,525 shares of the basic materials company’s stock valued at $4,599,000 after buying an additional 9,850 shares in the last quarter. Creative Planning boosted its position in shares of Newmont Mining Corporation by 6.8% in the first quarter. Creative Planning now owns 7,163 shares of the basic materials company’s stock valued at $236,000 after buying an additional 453 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of Newmont Mining Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 162,348 shares of the basic materials company’s stock valued at $5,350,000 after buying an additional 2,400 shares in the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.
Shares of Newmont Mining Corporation (NEM) opened at 35.83 on Friday. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $43.83. The stock’s 50 day moving average price is $34.88 and its 200-day moving average price is $34.36. The firm’s market cap is $19.11 billion.
Newmont Mining Corporation (NYSE:NEM) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. Newmont Mining Corporation’s revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that Newmont Mining Corporation will post $1.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s payout ratio is presently -22.22%.
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NEM has been the subject of several research reports. Credit Suisse Group set a $45.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price target (down from $37.00) on shares of Newmont Mining Corporation in a research note on Friday, July 14th. Zacks Investment Research raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, July 31st. BMO Capital Markets reissued a “buy” rating and issued a $40.00 target price on shares of Newmont Mining Corporation in a research note on Friday, April 21st. Finally, Scotiabank raised their target price on shares of Newmont Mining Corporation from $43.50 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corporation presently has an average rating of “Buy” and a consensus price target of $41.78.
In related news, EVP E Randall Engel sold 5,700 shares of Newmont Mining Corporation stock in a transaction on Tuesday, June 6th. The stock was 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 owns 256,800 shares of the company’s stock, valued at $8,988,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $31,800.00. Following the completion of the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $10,644,414. The disclosure for this sale can be found here. Insiders sold 22,907 shares of company stock valued at $803,461 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.
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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