Advisors Asset Management Inc. Cuts Stake in Newmont Mining Corporation (NEM)

Advisors Asset Management Inc. lowered its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 55.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,909 shares of the basic materials company’s stock after selling 8,429 shares during the period. Advisors Asset Management Inc.’s holdings in Newmont Mining Corporation were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cleararc Capital Inc. raised its position in shares of Newmont Mining Corporation by 0.6% during the first quarter. Cleararc Capital Inc. now owns 12,988 shares of the basic materials company’s stock worth $428,000 after purchasing an additional 73 shares during the period. Parkwood LLC raised its position in shares of Newmont Mining Corporation by 0.9% during the first quarter. Parkwood LLC now owns 19,149 shares of the basic materials company’s stock worth $631,000 after purchasing an additional 170 shares during the period. Advantus Capital Management Inc raised its position in shares of Newmont Mining Corporation by 0.4% during the first quarter. Advantus Capital Management Inc now owns 53,529 shares of the basic materials company’s stock worth $1,764,000 after purchasing an additional 224 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Newmont Mining Corporation by 0.4% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 66,675 shares of the basic materials company’s stock worth $2,198,000 after purchasing an additional 233 shares during the period. Finally, Legacy Capital Partners Inc. raised its position in shares of Newmont Mining Corporation by 2.8% during the first quarter. Legacy Capital Partners Inc. now owns 9,865 shares of the basic materials company’s stock worth $326,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 81.08% of the company’s stock.

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A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada set a $40.00 target price on Newmont Mining Corporation and gave the company a “hold” rating in a research report on Monday, June 12th. BidaskClub raised Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Raymond James Financial, Inc. started coverage on Newmont Mining Corporation in a research note on Thursday, June 15th. They issued an “outperform” rating and a $43.00 price target for the company. Jefferies Group LLC set a $37.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Friday, May 19th. Finally, TD Securities raised their price target on Newmont Mining Corporation from $36.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $40.96.

In other news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were 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 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 stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $31.80, for a total transaction of $39,750.00. Following the transaction, the chief operating officer now owns 91,862 shares in the company, valued at $2,921,211.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,457 shares of company stock worth $690,811. Corporate insiders own 0.32% of the company’s stock.

Newmont Mining Corporation (NYSE NEM) opened at 38.12 on Friday. The firm’s market cap is $20.33 billion. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $41.97. The stock’s 50 day moving average price is $37.20 and its 200-day moving average price is $34.49.

Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.20. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. Equities research analysts anticipate that Newmont Mining Corporation will post $1.36 earnings per share for the current fiscal year.

The business 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 dividend of $0.075 per share. The ex-dividend date is Wednesday, September 13th. This is a positive change 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 0.79%. Newmont Mining Corporation’s dividend payout ratio (DPR) is -33.33%.

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.

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

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