Newmont Mining Corporation (NEM) Shares Sold by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board cut its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 40.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 32,439 shares of the basic materials company’s stock after selling 22,272 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Newmont Mining Corporation were worth $1,051,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Smith Affiliated Capital Corp. lifted its position in shares of Newmont Mining Corporation by 8.6% in the second quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 300 shares in the last quarter. WFG Advisors LP boosted its stake 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 worth $124,000 after acquiring an additional 1,706 shares during the last quarter. Boston Private Wealth LLC acquired a new stake in shares of Newmont Mining Corporation in the first quarter worth approximately $222,000. Brighton Jones LLC acquired a new stake in shares of Newmont Mining Corporation in the first quarter worth approximately $258,000. Finally, Banced Corp boosted its stake in shares of Newmont Mining Corporation by 15.3% in the second quarter. Banced Corp now owns 8,473 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 1,126 shares during the last quarter. Institutional investors own 81.08% of the company’s stock.
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Shares of Newmont Mining Corporation (NEM) opened at 38.23 on Wednesday. The stock’s market cap is $20.39 billion. The firm has a 50-day moving average price of $37.70 and a 200-day moving average price of $34.93. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $39.63.
Newmont Mining Corporation (NYSE:NEM) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $0.44 earnings per share. Newmont Mining Corporation’s revenue was up 12.3% compared to the same quarter last year. On average, analysts anticipate that Newmont Mining Corporation will post $1.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were paid a $0.075 dividend. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 0.78%. The ex-dividend date was Wednesday, September 13th. Newmont Mining Corporation’s payout ratio is presently -33.33%.
A number of brokerages have weighed in on NEM. Scotiabank upgraded Newmont Mining Corporation from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $43.00 to $43.50 in a report on Wednesday, July 5th. Royal Bank Of Canada set a $41.00 target price on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, August 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $42.00 target price (down previously from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Credit Suisse Group set a $45.00 target price on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, BidaskClub cut shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Two equities 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 given a strong buy rating to the stock. Newmont Mining Corporation has a consensus rating of “Buy” and an average target price of $40.96.
In other Newmont Mining Corporation news, EVP William N. Macgowan sold 2,007 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $36.59, for a total transaction of $73,436.13. Following the transaction, the executive vice president now owns 127,178 shares of the company’s stock, valued at approximately $4,653,443.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $37.11, for a total value of $46,387.50. Following the transaction, the chief operating officer now directly owns 90,612 shares in the company, valued at approximately $3,362,611.32. The disclosure for this sale can be found here. Insiders sold a total of 29,707 shares of company stock valued at $1,120,866 over the last quarter. 0.32% of the stock is currently owned by insiders.
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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