Foundation Resource Management Inc. trimmed its position in shares of Newmont Mining Corp (NYSE:NEM) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 985,258 shares of the basic materials company’s stock after selling 6,695 shares during the quarter. Newmont Mining makes up approximately 6.7% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Foundation Resource Management Inc.’s holdings in Newmont Mining were worth $36,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Timber Hill LLC bought a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $260,000. Deane Retirement Strategies Inc. bought a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $1,513,000. Commonwealth Bank of Australia grew its stake in shares of Newmont Mining by 5.7% in the 3rd quarter. Commonwealth Bank of Australia now owns 433,082 shares of the basic materials company’s stock valued at $16,239,000 after purchasing an additional 23,286 shares during the period. Saratoga Research & Investment Management bought a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $382,000. Finally, Gabelli Funds LLC grew its stake in shares of Newmont Mining by 3.7% in the 3rd quarter. Gabelli Funds LLC now owns 2,731,471 shares of the basic materials company’s stock valued at $102,457,000 after purchasing an additional 97,300 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

In other Newmont Mining news, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $36.98, for a total transaction of $36,980.00. Following the transaction, the insider now owns 334,730 shares of the company’s stock, valued at approximately $12,378,315.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total value of $45,550.00. Following the transaction, the chief operating officer now directly owns 86,862 shares in the company, valued at approximately $3,165,251.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,700 shares of company stock worth $1,020,676. Company insiders own 0.32% of the company’s stock.

Newmont Mining Corp (NYSE:NEM) traded down $0.25 during midday trading on Wednesday, reaching $38.11. The company had a trading volume of 3,902,500 shares, compared to its average volume of 4,307,450. The company has a market cap of $20,330.00, a price-to-earnings ratio of 54.44 and a beta of 0.10. Newmont Mining Corp has a 1-year low of $31.42 and a 1-year high of $39.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18.

Newmont Mining (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Newmont Mining had a return on equity of 6.20% and a net margin of 1.18%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. research analysts anticipate that Newmont Mining Corp will post 1.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 8th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, December 7th. Newmont Mining’s dividend payout ratio is 42.86%.

NEM has been the topic of several analyst reports. TheStreet lowered Newmont Mining from a “b-” rating to a “c” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Newmont Mining 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. BMO Capital Markets restated a “buy” rating and set a $43.00 price target on shares of Newmont Mining in a research report on Wednesday, December 20th. TD Securities set a $42.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, FBR & Co set a $40.00 price target on Newmont Mining and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.64.

COPYRIGHT VIOLATION WARNING: “Newmont Mining Corp (NEM) Position Cut by Foundation Resource Management Inc.” was posted by Watch List News and is the property of of Watch List News. 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.watchlistnews.com/newmont-mining-corp-nem-position-cut-by-foundation-resource-management-inc/1801378.html.

Newmont Mining 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 Corp (NYSE:NEM).

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

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