PDT Partners LLC Has $10.79 Million Holdings in Newmont Mining Corp (NEM)
PDT Partners LLC raised its stake in Newmont Mining Corp (NYSE:NEM) by 74.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 333,197 shares of the basic materials company’s stock after buying an additional 142,136 shares during the period. PDT Partners LLC owned about 0.06% of Newmont Mining Corp worth $10,792,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Smith Affiliated Capital Corp. grew its position in shares of Newmont Mining Corp by 8.6% in 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. WFG Advisors LP grew its position in shares of Newmont Mining Corp by 83.5% in the 1st quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares during the last quarter. Boston Private Wealth LLC bought a new stake in shares of Newmont Mining Corp in the 1st quarter valued at about $222,000. Brighton Jones LLC bought a new stake in shares of Newmont Mining Corp in the 1st quarter valued at about $258,000. Finally, Banced Corp grew its position in shares of Newmont Mining Corp by 15.3% in the 2nd quarter. Banced Corp now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after buying an additional 1,126 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.
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In other news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the completion of the sale, the chief operating officer now directly owns 91,862 shares in the company, valued at approximately $2,921,211.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $31,800.00. Following the completion of the sale, the insider now owns 334,730 shares of the company’s stock, valued at $10,644,414. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,707 shares of company stock valued at $1,108,378. Company insiders own 0.32% of the company’s stock.
Newmont Mining Corp (NYSE:NEM) traded down 0.29% on Friday, reaching $37.51. The company had a trading volume of 2,775,028 shares. The company’s 50 day moving average is $37.28 and its 200-day moving average is $34.58. Newmont Mining Corp has a one year low of $30.19 and a one year high of $40.91. The firm’s market capitalization is $20.00 billion.
Newmont Mining Corp (NYSE:NEM) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.20. Newmont Mining Corp had a return on equity of 7.10% and a net margin of 9.01%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Newmont Mining Corp will post $1.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, September 13th. This is a positive change from Newmont Mining Corp’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 0.80%. Newmont Mining Corp’s payout ratio is currently -33.33%.
Several brokerages recently commented on NEM. Royal Bank Of Canada set a $41.00 target price on Newmont Mining Corp and gave the company a “hold” rating in a research report on Monday, August 28th. Credit Suisse Group set a $45.00 target price on Newmont Mining Corp and gave the company a “buy” rating in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and set a $35.00 target price (down previously from $37.00) on shares of Newmont Mining Corp in a research report on Friday, July 14th. Zacks Investment Research upgraded Newmont Mining Corp from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, July 31st. Finally, Scotiabank upped their target price on Newmont Mining Corp from $43.50 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Newmont Mining Corp presently has a consensus rating of “Buy” and an average price target of $40.96.
Newmont Mining Corp 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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