Newmont Mining Corp (NEM) Position Cut by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC reduced its position in shares of Newmont Mining Corp (NYSE:NEM) by 24.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,019,274 shares of the basic materials company’s stock after selling 322,459 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.19% of Newmont Mining Corp worth $33,595,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. HighTower Advisors LLC increased its position in shares of Newmont Mining Corp by 171.9% in the third quarter. HighTower Advisors LLC now owns 30,142 shares of the basic materials company’s stock worth $1,187,000 after buying an additional 19,055 shares during the period. Cabot Wealth Management Inc. increased its position in shares of Newmont Mining Corp by 2.7% in the third quarter. Cabot Wealth Management Inc. now owns 89,650 shares of the basic materials company’s stock worth $3,522,000 after buying an additional 2,316 shares during the period. Hanseatic Management Services Inc. increased its position in shares of Newmont Mining Corp by 22.1% in the third quarter. Hanseatic Management Services Inc. now owns 56,595 shares of the basic materials company’s stock worth $2,224,000 after buying an additional 10,228 shares during the period. Balasa Dinverno & Foltz LLC acquired a new position in shares of Newmont Mining Corp during the third quarter worth about $207,000. Finally, Arizona State Retirement System increased its position in shares of Newmont Mining Corp by 0.6% in the third quarter. Arizona State Retirement System now owns 309,260 shares of the basic materials company’s stock worth $12,151,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 82.02% of the company’s stock.

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

Shares of Newmont Mining Corp (NYSE:NEM) traded up 0.96% during mid-day trading on Friday, reaching $33.63. The company had a trading volume of 5,041,844 shares. Newmont Mining Corp has a one year low of $30.19 and a one year high of $46.07. The stock’s market capitalization is $17.93 billion. The firm has a 50 day moving average of $33.62 and a 200-day moving average of $34.22.

Newmont Mining Corp (NYSE:NEM) last released its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Newmont Mining Corp had a positive return on equity of 4.94% and a negative net margin of 6.99%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. Newmont Mining Corp’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts forecast that Newmont Mining Corp will post $1.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, June 6th. Newmont Mining Corp’s dividend payout ratio is presently -19.42%.

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A number of research analysts have issued reports on the company. Vetr upgraded Newmont Mining Corp from a “strong sell” rating to a “buy” rating and set a $40.80 price objective for the company in a research note on Tuesday, February 7th. Zacks Investment Research upgraded Newmont Mining Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Jefferies Group LLC set a $34.00 price objective on Newmont Mining Corp and gave the company a “hold” rating in a research note on Wednesday, February 22nd. FBR & Co restated a “hold” rating on shares of Newmont Mining Corp in a research note on Thursday, February 23rd. Finally, Royal Bank of Canada downgraded Newmont Mining Corp from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $43.00 to $38.00 in a research note on Thursday, March 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.46.

In other Newmont Mining Corp news, EVP E Randall Engel sold 2,356 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $35.82, for a total transaction of $84,391.92. Following the completion of the sale, the executive vice president now owns 211,000 shares of the company’s stock, valued at $7,558,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William N. Macgowan sold 2,006 shares of the business’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $36.31, for a total value of $72,837.86. Following the sale, the executive vice president now directly owns 91,462 shares of the company’s stock, valued at approximately $3,320,985.22. The disclosure for this sale can be found here. Insiders have sold 21,257 shares of company stock valued at $734,443 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

About Newmont Mining Corp

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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