U S Global Investors Inc Sells 40,000 Shares of Newmont Mining Corporation (NEM)

U S Global Investors Inc decreased its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 44.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the basic materials company’s stock after selling 40,000 shares during the period. U S Global Investors Inc’s holdings in Newmont Mining Corporation were worth $1,648,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cleararc Capital Inc. raised its stake in shares of 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 worth $428,000 after buying an additional 73 shares during the last quarter. Advisor Partners LLC raised its stake in shares of 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 worth $374,000 after buying an additional 84 shares during the last quarter. Ancora Advisors LLC raised its stake in shares of Newmont Mining Corporation by 0.4% in the fourth quarter. Ancora Advisors LLC now owns 22,522 shares of the basic materials company’s stock worth $767,000 after buying an additional 100 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Newmont Mining Corporation by 1.0% in the fourth quarter. Private Advisor Group LLC now owns 10,540 shares of the basic materials company’s stock worth $362,000 after buying an additional 104 shares during the last quarter. Finally, Parkwood LLC raised its stake in shares of Newmont Mining Corporation by 0.9% in the first quarter. Parkwood LLC now owns 19,149 shares of the basic materials company’s stock worth $631,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

Newmont Mining Corporation (NYSE:NEM) traded down 0.06% on Tuesday, hitting $33.71. 5,626,230 shares of the company traded hands. The stock’s 50-day moving average is $33.45 and its 200 day moving average is $34.18. The stock’s market cap is $17.98 billion. 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 released its quarterly earnings data on Monday, April 24th. The basic materials company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.73 billion. Newmont Mining Corporation had a negative net margin of 8.70% and a positive return on equity of 6.24%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Equities research analysts expect that Newmont Mining Corporation will post $1.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Thursday, June 8th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, June 6th. Newmont Mining Corporation’s dividend payout ratio is currently -16.81%.

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A number of brokerages recently issued reports on NEM. Zacks Investment Research lowered Newmont Mining Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Raymond James Financial, Inc. started coverage on Newmont Mining Corporation in a report on Thursday, June 15th. They issued an “outperform” rating and a $43.00 price target for the company. Royal Bank Of Canada set a $40.00 price objective on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, June 12th. Scotiabank raised shares of Newmont Mining Corporation from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $43.00 to $43.50 in a research note on Wednesday, July 5th. Finally, TD Securities reissued a “hold” rating and issued a $48.50 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Newmont Mining Corporation has a consensus rating of “Hold” and a consensus price target of $41.15.

In other Newmont Mining Corporation news, EVP Scott P. Lawson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $33.70, for a total value of $50,550.00. Following the sale, the executive vice president now owns 61,696 shares of the company’s stock, valued at $2,079,155.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 256,800 shares in the company, valued at approximately $8,988,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,450 shares of company stock worth $519,220. 0.32% of the stock is owned by insiders.

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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