IndexIQ Advisors LLC raised its position in shares of Newmont Mining Corp. (NYSE:NEM) by 67.9% during the third quarter, Holdings Channel reports. The fund owned 33,420 shares of the company’s stock after buying an additional 13,512 shares during the period. IndexIQ Advisors LLC’s holdings in Newmont Mining Corp. were worth $1,313,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NEM. Smith Affiliated Capital Corp. boosted its position in Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock valued at $196,000 after buying an additional 3,300 shares during the last quarter. Sullivan Bruyette Speros & Blaney Inc. purchased a new position in Newmont Mining Corp. during the second quarter valued at $203,000. Balasa Dinverno & Foltz LLC purchased a new position in Newmont Mining Corp. during the third quarter valued at $207,000. Pekin Singer Strauss Asset Management IL purchased a new position in Newmont Mining Corp. during the second quarter valued at $217,000. Finally, Gyroscope Capital Management Group LLC purchased a new position in Newmont Mining Corp. during the second quarter valued at $219,000. 79.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Newmont Mining Corp. (NYSE:NEM) traded up 0.83% during mid-day trading on Friday, reaching $31.76. 2,892,763 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $35.04 and a 200 day moving average price of $37.90. Newmont Mining Corp. has a 12-month low of $16.05 and a 12-month high of $46.07. The firm’s market capitalization is $16.86 billion.
Newmont Mining Corp. (NYSE:NEM) last posted its earnings results on Wednesday, October 26th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.12. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. The business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts anticipate that Newmont Mining Corp. will post $1.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, December 6th. This is an increase from Newmont Mining Corp.’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. Newmont Mining Corp.’s payout ratio is -9.71%.
Several research analysts have recently weighed in on NEM shares. Citigroup Inc. reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a report on Thursday, August 18th. Zacks Investment Research raised Newmont Mining Corp. from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, October 4th. Vetr raised Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $45.64 target price on the stock in a research note on Monday, September 12th. Bank of America Corp. raised Newmont Mining Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, Barclays PLC increased their target price on Newmont Mining Corp. from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $38.65.
In related news, EVP Scott P. Lawson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $35.99, for a total transaction of $53,985.00. Following the transaction, the executive vice president now directly owns 44,795 shares in the company, valued at approximately $1,612,172.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Macgowan sold 2,006 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $37.53, for a total transaction of $75,285.18. Following the transaction, the executive vice president now owns 96,773 shares in the company, valued at $3,631,890.69. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.
Newmont Mining Corp. Company Profile
Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.
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