IFP Advisors Inc cut its position in shares of Newmont Mining Corporation (NYSE:NEM) by 6.6% during the second quarter, Holdings Channel reports. The firm owned 8,176 shares of the basic materials company’s stock after selling 580 shares during the period. IFP Advisors Inc’s holdings in Newmont Mining Corporation were worth $265,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Creative Planning boosted its stake in Newmont Mining Corporation by 6.8% in the first quarter. Creative Planning now owns 7,163 shares of the basic materials company’s stock worth $236,000 after buying an additional 453 shares during the period. DnB Asset Management AS boosted its stake in Newmont Mining Corporation by 20.3% in the first quarter. DnB Asset Management AS now owns 64,527 shares of the basic materials company’s stock worth $2,127,000 after buying an additional 10,900 shares during the period. Nisa Investment Advisors LLC boosted its stake in Newmont Mining Corporation by 114.0% in the first quarter. Nisa Investment Advisors LLC now owns 181,687 shares of the basic materials company’s stock worth $5,988,000 after buying an additional 96,768 shares during the period. State of Alaska Department of Revenue acquired a new stake in Newmont Mining Corporation during the first quarter worth approximately $1,446,000. Finally, Retirement Systems of Alabama boosted its stake in Newmont Mining Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 464,072 shares of the basic materials company’s stock worth $15,296,000 after buying an additional 5,354 shares during the period. Institutional investors own 82.18% of the company’s stock.

Shares of Newmont Mining Corporation (NYSE:NEM) opened at 35.83 on Friday. The company’s 50-day moving average price is $34.88 and its 200 day moving average price is $34.36. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $43.83. The firm’s market capitalization is $19.11 billion.

Newmont Mining Corporation (NYSE:NEM) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $0.44 EPS. Newmont Mining Corporation’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Newmont Mining Corporation will post $1.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be paid a $0.075 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s dividend payout ratio is presently -22.22%.

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NEM has been the subject of a number of research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 price target on shares of Newmont Mining Corporation in a research note on Friday, April 21st. TD Securities reiterated a “hold” rating and issued a $48.50 price target on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Scotiabank reiterated a “sector perform” rating and issued a $58.00 price target on shares of Newmont Mining Corporation in a research note on Tuesday, April 25th. Credit Suisse Group reiterated a “buy” rating on shares of Newmont Mining Corporation in a research note on Thursday, April 27th. Finally, Jefferies Group LLC set a $37.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Newmont Mining Corporation has a consensus rating of “Buy” and a consensus target price of $41.78.

In related news, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $37.11, for a total value of $211,527.00. Following the sale, the executive vice president now owns 251,100 shares of the company’s stock, valued at approximately $9,318,321. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total value of $37,110.00. Following the completion of the sale, the insider now directly owns 334,730 shares in the company, valued at approximately $12,421,830.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,907 shares of company stock worth $803,461. 0.32% of the stock is owned by corporate 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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Institutional Ownership by Quarter for Newmont Mining Corporation (NYSE:NEM)

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