HighTower Advisors LLC boosted its position in shares of Newmont Mining Corporation (NYSE:NEM) by 36.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,526 shares of the basic materials company’s stock after buying an additional 5,791 shares during the period. HighTower Advisors LLC’s holdings in Newmont Mining Corporation were worth $707,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in Newmont Mining Corporation during the first quarter worth about $118,000. WFG Advisors LP raised its position in Newmont Mining Corporation by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares in the last quarter. Acrospire Investment Management LLC raised its position in Newmont Mining Corporation by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,300 shares in the last quarter. Private Capital Advisors Inc. bought a new position in Newmont Mining Corporation during the first quarter valued at $202,000. Finally, Clear Harbor Asset Management LLC bought a new position in Newmont Mining Corporation during the first quarter valued at $210,000. Institutional investors and hedge funds own 81.41% of the company’s stock.
Shares of Newmont Mining Corporation (NEM) traded down 1.20% on Friday, hitting $36.15. 4,072,469 shares of the stock traded hands. The firm’s 50 day moving average is $33.80 and its 200 day moving average is $34.24. Newmont Mining Corporation has a 52 week low of $30.19 and a 52 week high of $46.07. The firm’s market capitalization is $19.28 billion.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $0.44 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that Newmont Mining Corporation will post $1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, September 13th. This is an increase 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 0.83%. Newmont Mining Corporation’s dividend payout ratio (DPR) is -22.22%.
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Several research analysts have weighed in on NEM shares. Deutsche Bank AG reiterated a “buy” rating and issued a $42.00 price objective (down previously from $44.00) on shares of Newmont Mining Corporation in a research note on Sunday, June 25th. BMO Capital Markets upped their price objective on shares of Newmont Mining Corporation to $54.00 and gave the company a “buy” rating in a research note on Thursday, May 11th. Credit Suisse Group reiterated a “buy” rating on shares of Newmont Mining Corporation in a research note on Thursday, April 27th. Argus upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $41.73.
In other news, EVP E Randall Engel sold 5,700 shares of Newmont Mining Corporation stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total value of $199,500.00. Following the sale, the executive vice president now directly owns 256,800 shares in the company, valued at $8,988,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Macgowan sold 2,007 shares of Newmont Mining Corporation stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $36.59, for a total transaction of $73,436.13. Following the completion of the sale, the executive vice president now owns 127,178 shares in the company, valued at $4,653,443.02. The disclosure for this sale can be found here. Insiders sold 22,907 shares of company stock worth $803,461 over the last quarter. 0.32% of the stock is 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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