APG Asset Management N.V. Raises Stake in Newmont Mining Corporation (NEM)
APG Asset Management N.V. boosted its position in Newmont Mining Corporation (NYSE:NEM) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,933,153 shares of the basic materials company’s stock after buying an additional 534,550 shares during the period. APG Asset Management N.V. owned approximately 1.68% of Newmont Mining Corporation worth $289,345,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of NEM. Bank of Montreal Can increased its position in Newmont Mining Corporation by 34.2% in the first quarter. Bank of Montreal Can now owns 1,985,044 shares of the basic materials company’s stock worth $65,427,000 after buying an additional 506,249 shares during the period. Nisa Investment Advisors LLC increased its position in Newmont Mining Corporation by 114.0% in the first quarter. Nisa Investment Advisors LLC now owns 181,687 shares of the basic materials company’s stock worth $5,988,000 after buying an additional 96,768 shares during the period. Sprott Inc. increased its position in Newmont Mining Corporation by 32.9% in the first quarter. Sprott Inc. now owns 533,078 shares of the basic materials company’s stock worth $17,570,000 after buying an additional 131,897 shares during the period. Envestnet Asset Management Inc. increased its position in Newmont Mining Corporation by 23.8% in the first quarter. Envestnet Asset Management Inc. now owns 67,558 shares of the basic materials company’s stock worth $2,228,000 after buying an additional 12,979 shares during the period. Finally, Vanguard Group Inc. increased its position in Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.
Shares of Newmont Mining Corporation (NYSE NEM) traded down 0.52% on Monday, reaching $34.21. The company’s stock had a trading volume of 939,921 shares. The stock’s market cap is $18.24 billion. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $46.07. The firm has a 50 day moving average price of $33.44 and a 200-day moving average price of $34.18.
Newmont Mining Corporation (NYSE:NEM) last announced its quarterly earnings data on Monday, April 24th. The basic materials company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.73 billion. Newmont Mining Corporation had a positive return on equity of 6.24% and a negative net margin of 8.70%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. Equities research analysts expect that Newmont Mining Corporation will post $1.12 EPS for the current year.
The company 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 a positive change 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 0.87%. Newmont Mining Corporation’s dividend payout ratio is currently -16.81%.
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NEM has been the subject of several analyst reports. Jefferies Group LLC restated a “hold” rating and set a $35.00 price target (down from $37.00) on shares of Newmont Mining Corporation in a report on Friday, July 14th. Deutsche Bank AG restated a “buy” rating and set a $42.00 price target (down from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Scotiabank restated a “sector perform” rating and set a $58.00 price target on shares of Newmont Mining Corporation in a report on Tuesday, April 25th. Credit Suisse Group set a $45.00 price target on Newmont Mining Corporation and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $39.00 price target on shares of Newmont Mining Corporation in a report on Tuesday, May 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.03.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the transaction, the chief operating officer now directly owns 91,862 shares of the company’s stock, valued at $2,921,211.60. The sale was disclosed in a 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 stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total value of $199,500.00. Following the completion of the transaction, the executive vice president now directly owns 256,800 shares in the company, valued at $8,988,000. The disclosure for this sale can be found here. Insiders sold 15,450 shares of company stock worth $519,220 over the last three months. Corporate insiders own 0.32% of the company’s stock.
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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