New York State Teachers Retirement System lowered its position in shares of Newmont Mining Corporation (NYSE:NEM) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 948,309 shares of the basic materials company’s stock after selling 82,354 shares during the period. New York State Teachers Retirement System owned approximately 0.18% of Newmont Mining Corporation worth $31,256,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares during the period. Van ECK Associates Corp raised its position in Newmont Mining Corporation by 4.8% in the first quarter. Van ECK Associates Corp now owns 36,170,799 shares of the basic materials company’s stock valued at $1,192,190,000 after buying an additional 1,656,051 shares during the period. Bank of New York Mellon Corp raised its position in Newmont Mining Corporation by 55.8% in the first quarter. Bank of New York Mellon Corp now owns 9,135,286 shares of the basic materials company’s stock valued at $301,099,000 after buying an additional 3,273,420 shares during the period. APG Asset Management N.V. raised its position in Newmont Mining Corporation by 8.9% in the first quarter. APG Asset Management N.V. now owns 8,398,603 shares of the basic materials company’s stock valued at $276,818,000 after buying an additional 689,500 shares during the period. Finally, Flossbach Von Storch AG raised its position in Newmont Mining Corporation by 81.7% in the first quarter. Flossbach Von Storch AG now owns 6,092,593 shares of the basic materials company’s stock valued at $200,812,000 after buying an additional 2,739,440 shares during the period. 81.71% of the stock is currently owned by institutional investors.
Newmont Mining Corporation (NYSE NEM) traded down 0.06% during trading on Tuesday, reaching $33.71. The company’s stock had a trading volume of 5,626,230 shares. The stock’s market cap is $17.98 billion. The company’s 50-day moving average is $33.45 and its 200-day moving average is $34.18. Newmont Mining Corporation has a 12 month low of $30.19 and a 12 month high of $46.07.
Newmont Mining Corporation (NYSE:NEM) last announced its quarterly earnings data on Monday, April 24th. The basic materials company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. Newmont Mining Corporation had a positive return on equity of 6.24% and a negative net margin of 8.70%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts expect that Newmont Mining Corporation will post $1.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. Newmont Mining Corporation’s dividend payout ratio (DPR) is presently -16.81%.
Several brokerages have commented on NEM. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 target price on shares of Newmont Mining Corporation in a report on Wednesday, June 14th. Royal Bank Of Canada set a $40.00 target price on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, June 12th. Jefferies Group LLC raised their target price on shares of Newmont Mining Corporation from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Deutsche Bank AG reiterated a “buy” rating and issued a $42.00 target price (down from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Newmont Mining Corporation in a research report on Thursday, June 15th. They issued an “outperform” rating and a $43.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $41.15.
In other Newmont Mining Corporation news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $33.67, for a total value of $33,670.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at approximately $11,270,359.10. The disclosure for this sale can be found here. Insiders sold 15,450 shares of company stock valued at $519,220 in the last three months. Insiders own 0.32% of the company’s stock.
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.
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