Guggenheim Capital LLC Sells 50,324 Shares of Newmont Mining Corp. (NEM)
Guggenheim Capital LLC cut its stake in shares of Newmont Mining Corp. (NYSE:NEM) by 3.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,571,526 shares of the company’s stock after selling 50,324 shares during the period. Guggenheim Capital LLC owned approximately 0.30% of Newmont Mining Corp. worth $61,477,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Cantab Capital Partners LLP boosted its position in shares of Newmont Mining Corp. by 21.9% in the second quarter. Cantab Capital Partners LLP now owns 16,017 shares of the company’s stock worth $627,000 after buying an additional 2,880 shares during the last quarter. Veritable L.P. bought a new position in shares of Newmont Mining Corp. during the second quarter worth about $359,000. Passport Capital LLC bought a new position in shares of Newmont Mining Corp. during the second quarter worth about $54,069,000. Compagnie Lombard Odier SCmA boosted its position in shares of Newmont Mining Corp. by 57.7% in the second quarter. Compagnie Lombard Odier SCmA now owns 312,942 shares of the company’s stock worth $12,242,000 after buying an additional 114,450 shares during the last quarter. Finally, Bridgeway Capital Management Inc. boosted its position in shares of Newmont Mining Corp. by 8.0% in the second quarter. Bridgeway Capital Management Inc. now owns 1,105,803 shares of the company’s stock worth $43,259,000 after buying an additional 81,603 shares during the last quarter. 79.56% of the stock is owned by hedge funds and other institutional investors.
Newmont Mining Corp. (NYSE:NEM) traded down 8.91% during mid-day trading on Friday, hitting $31.59. The company’s stock had a trading volume of 15,364,107 shares. The firm’s market cap is $16.77 billion. Newmont Mining Corp. has a 52-week low of $16.05 and a 52-week high of $46.07. The firm has a 50 day moving average of $36.26 and a 200-day moving average of $37.89.
Newmont Mining Corp. (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.12. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. On average, equities research analysts expect that Newmont Mining Corp. will post $1.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a $0.05 dividend. This is a boost from Newmont Mining Corp.’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. Newmont Mining Corp.’s payout ratio is currently -9.71%.
A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Newmont Mining Corp. in a report on Tuesday, August 9th. They issued an “equal weight” rating and a $41.00 target price for the company. Zacks Investment Research cut Newmont Mining Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 25th. JPMorgan Chase & Co. raised Newmont Mining Corp. from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a report on Thursday, November 3rd. Citigroup Inc. started coverage on Newmont Mining Corp. in a report on Tuesday, August 2nd. They issued a “buy” rating and a $44.00 target price for the company. Finally, Argus reaffirmed a “hold” rating on shares of Newmont Mining Corp. in a report on Wednesday, July 27th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Newmont Mining Corp. currently has a consensus rating of “Buy” and an average target price of C$38.65.
In related news, EVP Scott P. Lawson sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of C$35.99, for a total value of C$53,985.00. Following the sale, the executive vice president now owns 44,795 shares of the company’s stock, valued at C$1,612,172.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William N. Macgowan sold 2,006 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of C$37.53, for a total transaction of C$75,285.18. Following the completion of the sale, the executive vice president now directly owns 96,773 shares in the company, valued at approximately C$3,631,890.69. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
About Newmont Mining Corp.
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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