Private Advisor Group LLC reduced its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 46.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,847 shares of the basic materials company’s stock after selling 6,749 shares during the quarter. Private Advisor Group LLC’s holdings in Newmont Mining Corporation were worth $255,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NEM. Vanguard Group Inc. grew its stake in Newmont Mining Corporation by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock valued at $1,744,405,000 after purchasing an additional 1,671,897 shares in the last quarter. Van ECK Associates Corp grew its stake in Newmont Mining Corporation by 4.8% during the 1st quarter. Van ECK Associates Corp now owns 36,170,799 shares of the basic materials company’s stock valued at $1,192,190,000 after purchasing an additional 1,656,051 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Newmont Mining Corporation by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,445,025 shares of the basic materials company’s stock valued at $305,925,000 after purchasing an additional 309,739 shares in the last quarter. APG Asset Management N.V. grew its stake in Newmont Mining Corporation by 6.4% during the 2nd quarter. APG Asset Management N.V. now owns 8,933,153 shares of the basic materials company’s stock valued at $289,345,000 after purchasing an additional 534,550 shares in the last quarter. Finally, Flossbach Von Storch AG grew its stake in Newmont Mining Corporation by 29.2% during the 2nd quarter. Flossbach Von Storch AG now owns 7,873,186 shares of the basic materials company’s stock valued at $255,012,000 after purchasing an additional 1,780,593 shares in the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.

Shares of Newmont Mining Corporation (NYSE:NEM) opened at 37.63 on Thursday. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $41.97. The company’s market cap is $20.07 billion. The stock has a 50 day moving average price of $37.28 and a 200-day moving average price of $34.58.

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, topping the Zacks’ consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company earned $0.44 EPS. Newmont Mining Corporation’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts predict that Newmont Mining Corporation will post $1.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be issued a dividend of $0.075 per share. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.30 annualized dividend and a yield of 0.80%. Newmont Mining Corporation’s dividend payout ratio is currently -33.33%.

A number of brokerages have weighed in on NEM. Royal Bank Of Canada set a $40.00 price objective on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Monday, June 12th. BidaskClub upgraded Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Raymond James Financial, Inc. began coverage on Newmont Mining Corporation in a research note on Thursday, June 15th. They set an “outperform” rating and a $43.00 price objective for the company. TD Securities raised their price objective on Newmont Mining Corporation from $36.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.96.

In other Newmont Mining Corporation news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total transaction of $39,750.00. Following the transaction, the chief operating officer now owns 91,862 shares of the company’s stock, valued at approximately $2,921,211.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $31,800.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at approximately $10,644,414. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,457 shares of company stock worth $526,861. Company insiders own 0.32% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Private Advisor Group LLC Has $255,000 Position in Newmont Mining Corporation (NEM)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/09/21/private-advisor-group-llc-has-255000-position-in-newmont-mining-corporation-nem.html.

Newmont Mining Corporation 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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Mining Corporation (NYSE:NEM).

Institutional Ownership by Quarter for Newmont Mining Corporation (NYSE:NEM)

Receive News & Stock Ratings for Newmont Mining Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining Corporation and related stocks with our FREE daily email newsletter.