Louisiana State Employees Retirement System Has $1.07 Million Stake in Newmont Mining Corporation (NEM)
Louisiana State Employees Retirement System increased its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,100 shares of the basic materials company’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Newmont Mining Corporation were worth $1,072,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in shares of Newmont Mining Corporation during the first quarter valued at approximately $118,000. WFG Advisors LP increased its position 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 valued at $124,000 after buying an additional 1,706 shares during the last quarter. Acrospire Investment Management LLC increased its position 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 valued at $162,000 after buying an additional 2,300 shares during the last quarter. Private Capital Advisors Inc. acquired a new position in shares of Newmont Mining Corporation during the first quarter valued at approximately $202,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Newmont Mining Corporation during the first quarter valued at approximately $210,000. 81.85% of the stock is owned by institutional investors and hedge funds.
Shares of Newmont Mining Corporation (NYSE:NEM) traded up 0.06% during midday trading on Monday, reaching $36.17. The company’s stock had a trading volume of 3,290,898 shares. The stock’s 50 day moving average price is $33.80 and its 200 day moving average price is $34.24. The firm’s market cap is $19.29 billion. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $46.07.
Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.20. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. Analysts predict that Newmont Mining Corporation will post $1.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, September 13th. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s payout ratio is presently -22.22%.
Several equities analysts have recently commented on the company. BidaskClub upgraded Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Raymond James Financial, Inc. assumed coverage on Newmont Mining Corporation in a research report on Thursday, June 15th. They issued an “outperform” rating and a $43.00 price objective on the stock. Royal Bank Of Canada set a $40.00 price objective on Newmont Mining Corporation and gave the company a “hold” rating in a research report on Monday, June 12th. Finally, Scotiabank upgraded Newmont Mining Corporation from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $43.00 to $43.50 in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Newmont Mining Corporation has a consensus rating of “Buy” and a consensus target price of $41.73.
In other Newmont Mining Corporation news, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $35.00, for a total value of $199,500.00. Following the sale, the executive vice president now owns 256,800 shares of the company’s stock, valued at $8,988,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William N. Macgowan sold 2,007 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $36.59, for a total value of $73,436.13. Following the completion of the sale, the executive vice president now directly owns 127,178 shares in the company, valued at approximately $4,653,443.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,907 shares of company stock worth $803,461. Corporate insiders own 0.32% of the company’s stock.
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.
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