State Farm Mutual Automobile Insurance Co. Holds Holdings in Newmont Mining Corporation (NEM)

State Farm Mutual Automobile Insurance Co. maintained its position in shares of Newmont Mining Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,571,937 shares of the basic materials company’s stock at the close of the second quarter. State Farm Mutual Automobile Insurance Co. owned 0.48% of Newmont Mining Corporation worth $83,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in Newmont Mining Corporation during the first quarter worth about $118,000. Advisors Asset Management Inc. lifted its position in shares of Newmont Mining Corporation by 6.6% during the first quarter. Advisors Asset Management Inc. now owns 15,338 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 945 shares in the last quarter. Henderson Group PLC lifted its position in shares of Newmont Mining Corporation by 1.8% during the first quarter. Henderson Group PLC now owns 72,782 shares of the basic materials company’s stock worth $2,399,000 after purchasing an additional 1,300 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Newmont Mining Corporation by 19.0% during the first quarter. LS Investment Advisors LLC now owns 14,923 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Newmont Mining Corporation by 12.3% during the first quarter. Swiss National Bank now owns 4,619,232 shares of the basic materials company’s stock worth $152,250,000 after purchasing an additional 504,600 shares in the last quarter. 81.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of Newmont Mining Corporation (NYSE NEM) traded down 0.644% during mid-day trading on Friday, reaching $37.815. 1,962,835 shares of the company’s stock were exchanged. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $41.97. The company’s market cap is $20.17 billion. The company’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, beating the Zacks’ 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 firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts predict that Newmont Mining Corporation will post $1.36 EPS for the current year.

The firm also recently declared 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 is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 0.79%. Newmont Mining Corporation’s payout ratio is currently -33.33%.

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In related news, insider Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.60, for a total value of $38,600.00. Following the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $12,920,578. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.60, for a total value of $48,250.00. Following the sale, the chief operating officer now directly owns 89,362 shares in the company, valued at $3,449,373.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,457 shares of company stock worth $690,811. 0.32% of the stock is owned by insiders.

A number of brokerages have recently issued reports on NEM. Royal Bank Of Canada set a $41.00 target price on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a research report on Monday, August 28th. BMO Capital Markets set a $40.00 price objective on shares of Newmont Mining Corporation and gave the company a “buy” rating in a report on Wednesday, August 23rd. BidaskClub lowered shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Newmont Mining Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Argus raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Newmont Mining Corporation currently has a consensus rating of “Buy” and an average price target of $40.96.

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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