Traders Purchase High Volume of Newmont Mining Corporation Put Options (NEM)
Newmont Mining Corporation (NYSE:NEM) saw some unusual options trading activity on Monday. Investors purchased 8,222 put options on the stock. This is an increase of 228% compared to the typical daily volume of 2,504 put options.
In other Newmont Mining Corporation news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $31.80, for a total value of $39,750.00. Following the transaction, the chief operating officer now directly owns 91,862 shares of the company’s stock, valued at approximately $2,921,211.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP E Randall Engel sold 5,700 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total transaction of $199,500.00. Following the completion of the transaction, the executive vice president now directly owns 256,800 shares in the company, valued at $8,988,000. The disclosure for this sale can be found here. Insiders sold a total of 22,907 shares of company stock worth $803,461 over the last three months. 0.32% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in 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 worth $236,000 after buying an additional 453 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Newmont Mining Corporation by 17.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 275,000 shares of the basic materials company’s stock worth $9,064,000 after buying an additional 40,000 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its position in Newmont Mining Corporation by 151.2% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 86,402 shares of the basic materials company’s stock worth $2,848,000 after buying an additional 52,006 shares during the last quarter. Virtu Financial LLC purchased a new position in Newmont Mining Corporation during the first quarter worth about $406,000. Finally, Oxbow Advisors LLC raised its position in Newmont Mining Corporation by 61.7% in the first quarter. Oxbow Advisors LLC now owns 50,871 shares of the basic materials company’s stock worth $1,677,000 after buying an additional 19,410 shares during the last quarter. 81.07% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on NEM shares. Royal Bank Of Canada set a $41.00 price target on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, August 28th. Credit Suisse Group set a $45.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price target (down from $37.00) on shares of Newmont Mining Corporation in a research note on Friday, July 14th. Zacks Investment Research raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, July 31st. Finally, Scotiabank upped their price target on shares of Newmont Mining Corporation from $43.50 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.96.
Shares of Newmont Mining Corporation (NYSE NEM) opened at 38.66 on Friday. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $42.69. The company has a 50 day moving average of $36.20 and a 200 day moving average of $34.39. The stock’s market capitalization is $20.62 billion.
Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.20. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. Newmont Mining Corporation’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Analysts predict that Newmont Mining Corporation will post $1.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors 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 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Wednesday, September 13th. Newmont Mining Corporation’s payout ratio is presently -22.22%.
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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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