Newmont Mining Corporation (NYSE:NEM) Stake Boosted by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in Newmont Mining Corporation (NYSE:NEM) by 36.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Newmont Mining Corporation during the first quarter worth about $118,000. WFG Advisors LP increased its stake in shares of 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 worth $124,000 after buying an additional 1,706 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of 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 worth $162,000 after buying an additional 2,300 shares during the last quarter. Private Capital Advisors Inc. purchased a new stake in shares of Newmont Mining Corporation during the first quarter worth about $202,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Newmont Mining Corporation during the first quarter worth about $210,000. 81.55% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Mining Corporation (NYSE NEM) opened at 32.95 on Wednesday. The stock’s market capitalization is $17.57 billion. The firm’s 50 day moving average is $33.74 and its 200 day moving average is $34.13. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $46.07.

Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. Newmont Mining Corporation’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont Mining Corporation will post $1.13 earnings per share for the current year.

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.20 annualized dividend and a yield of 0.61%. Newmont Mining Corporation’s payout ratio is presently -16.81%.

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NEM has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of Newmont Mining Corporation to $54.00 and gave the stock a “buy” rating in a report on Thursday, May 11th. Credit Suisse Group reissued a “buy” rating on shares of Newmont Mining Corporation in a report on Thursday, April 27th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price target (down from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Royal Bank Of Canada set a $40.00 price target on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, June 12th. Finally, Jefferies Group LLC set a $37.00 price target on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $41.28.

In other Newmont Mining Corporation news, EVP Scott P. Lawson sold 1,500 shares of the stock in a transaction on Tuesday, April 25th. The stock was 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 in the company, valued at $2,079,155.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the completion of the sale, the chief operating officer now owns 91,862 shares in the company, valued at approximately $2,921,211.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,450 shares of company stock worth $519,220 in the last 90 days. 0.32% of the stock is currently 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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