Newmont Mining Corporation (NEM) Shares Sold by Van ECK Associates Corp
Van ECK Associates Corp lowered its holdings in Newmont Mining Corporation (NYSE:NEM) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,607,547 shares of the basic materials company’s stock after selling 2,361,995 shares during the period. Newmont Mining Corporation comprises 5.1% of Van ECK Associates Corp’s holdings, making the stock its largest position. Van ECK Associates Corp owned approximately 4.99% of Newmont Mining Corporation worth $998,049,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Smith Affiliated Capital Corp. lifted its position in shares of Newmont Mining Corporation by 8.6% during the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. Sun Life Financial INC lifted its position in shares of Newmont Mining Corporation by 43,144.4% during the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after buying an additional 3,883 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Newmont Mining Corporation during the 3rd quarter valued at $222,000. Timber Hill LLC purchased a new position in shares of Newmont Mining Corporation during the 3rd quarter valued at $260,000. Finally, Veritable L.P. lifted its position in shares of Newmont Mining Corporation by 4.6% during the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after buying an additional 370 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.
In other Newmont Mining Corporation news, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.60, for a total value of $38,600.00. Following the transaction, the insider now directly owns 334,730 shares in the company, valued at approximately $12,920,578. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total value of $207,708.00. Following the completion of the transaction, the executive vice president now owns 122,178 shares in the company, valued at $4,452,166.32. The disclosure for this sale can be found here. Insiders sold a total of 27,700 shares of company stock worth $1,042,103 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.
Shares of Newmont Mining Corporation (NYSE NEM) traded up $0.34 during midday trading on Thursday, reaching $36.71. The company’s stock had a trading volume of 4,144,273 shares, compared to its average volume of 5,428,875. The company has a market cap of $19,397.45, a price-to-earnings ratio of 26.17 and a beta of 0.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. Newmont Mining Corporation has a fifty-two week low of $30.40 and a fifty-two week high of $39.63.
Newmont Mining Corporation (NYSE:NEM) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. Newmont Mining Corporation had a return on equity of 6.20% and a net margin of 1.18%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. sell-side analysts expect that Newmont Mining Corporation will post 1.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 8th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.30 dividend on an annualized basis and a yield of 0.82%. Newmont Mining Corporation’s dividend payout ratio is currently 200.00%.
A number of research analysts have recently commented on NEM shares. Zacks Investment Research raised Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, October 18th. Royal Bank Of Canada set a $41.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a research report on Monday, August 28th. TheStreet raised Newmont Mining Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, October 11th. FBR & Co set a $40.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, TD Securities upped their price target on Newmont Mining Corporation from $36.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $40.83.
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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