Nikko Asset Management Americas Inc. reduced its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 200,200 shares of the basic materials company’s stock after selling 7,100 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Newmont Mining Corporation were worth $6,484,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Creative Planning raised its position 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 valued at $236,000 after buying an additional 453 shares during the last quarter. DnB Asset Management AS raised its position 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 valued at $2,127,000 after buying an additional 10,900 shares during the last quarter. Nisa Investment Advisors LLC raised its position 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 valued at $5,988,000 after buying an additional 96,768 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Newmont Mining Corporation during the first quarter valued at approximately $1,446,000. Finally, Retirement Systems of Alabama raised its position 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 valued at $15,296,000 after buying an additional 5,354 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Shares of Newmont Mining Corporation (NYSE:NEM) opened at 35.83 on Friday. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $43.83. The stock has a 50 day moving average price of $34.88 and a 200-day moving average price of $34.36. The firm’s market cap 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 for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Newmont Mining Corporation will post $1.34 earnings per share for the current fiscal year.

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

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Several research firms recently commented on NEM. Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Monday, July 31st. Argus upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, July 27th. BidaskClub upgraded Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Scotiabank upped their target price on Newmont Mining Corporation from $43.50 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Finally, TD Securities upped their target price on Newmont Mining Corporation from $36.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, July 26th. Two 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 issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $41.78.

In other Newmont Mining Corporation news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $31.80, for a total transaction of $39,750.00. Following the transaction, the chief operating officer now directly owns 91,862 shares in the company, valued at $2,921,211.60. 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 firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total value of $37,110.00. Following the transaction, the insider now owns 334,730 shares in the company, valued at $12,421,830.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,907 shares of company stock worth $803,461. Corporate insiders own 0.32% of the company’s stock.

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

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