Convergence Investment Partners LLC bought a new position in shares of Newmont Mining Corp. (NYSE:NEM) during the second quarter, Holdings Channel reports. The institutional investor bought 22,017 shares of the company’s stock, valued at approximately $861,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Newmont Mining Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 48,215,985 shares of the company’s stock valued at $1,886,209,000 after buying an additional 1,294,310 shares in the last quarter. BlackRock Group LTD increased its stake in Newmont Mining Corp. by 19.4% in the first quarter. BlackRock Group LTD now owns 21,285,164 shares of the company’s stock valued at $565,760,000 after buying an additional 3,464,169 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Newmont Mining Corp. by 4.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 16,687,935 shares of the company’s stock valued at $443,565,000 after buying an additional 729,721 shares in the last quarter. Carmignac Gestion increased its stake in Newmont Mining Corp. by 3.5% in the second quarter. Carmignac Gestion now owns 13,079,898 shares of the company’s stock valued at $511,686,000 after buying an additional 436,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Newmont Mining Corp. by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,507,760 shares of the company’s stock valued at $254,511,000 after buying an additional 291,632 shares in the last quarter. Institutional investors own 80.26% of the company’s stock.

Newmont Mining Corp. (NYSE:NEM) opened at 38.43 on Tuesday. Newmont Mining Corp. has a 52 week low of $15.40 and a 52 week high of $46.07. The stock’s 50 day moving average price is $42.14 and its 200-day moving average price is $35.67. The stock has a market capitalization of $20.39 billion, a P/E ratio of 519.32 and a beta of 0.22.

Newmont Mining Corp. (NYSE:NEM) last announced its earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.14. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that Newmont Mining Corp. will post $1.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Tuesday, September 13th. Newmont Mining Corp.’s payout ratio is 166.69%.

Several research analysts recently commented on the company. Morgan Stanley reissued a “hold” rating and set a $41.00 target price on shares of Newmont Mining Corp. in a research note on Tuesday, August 16th. Barclays PLC boosted their target price on Newmont Mining Corp. from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. Citigroup Inc. reissued a “buy” rating on shares of Newmont Mining Corp. in a research note on Thursday, August 18th. Zacks Investment Research cut Newmont Mining Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Vetr cut Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 target price for the company. in a research note on Tuesday, September 6th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Newmont Mining Corp. presently has a consensus rating of “Buy” and an average target price of C$37.47.

In related news, EVP Scott P. Lawson sold 4,700 shares of Newmont Mining Corp. stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of C$40.35, for a total value of C$189,645.00. Following the completion of the transaction, the executive vice president now directly owns 46,295 shares in the company, valued at C$1,868,003.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of Newmont Mining Corp. stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of C$44.95, for a total value of C$365,668.25. Following the completion of the transaction, the executive vice president now owns 98,779 shares of the company’s stock, valued at C$4,440,116.05. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

About Newmont Mining Corp.

Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.

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