Newmont Mining Corp. (NEM) Position Reduced by SOL Capital Management CO
SOL Capital Management CO cut its position in shares of Newmont Mining Corp. (NYSE:NEM) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 9,850 shares of the company’s stock after selling 300 shares during the period. SOL Capital Management CO’s holdings in Newmont Mining Corp. were worth $385,000 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. Orbis Allan Gray Ltd purchased a new position in shares of Newmont Mining Corp. during the first quarter valued at about $86,842,000. Anchor Bolt Capital LP bought a new position in shares of Newmont Mining Corp. during the first quarter valued at $62,435,000. Bank of Montreal Can bought a new position in shares of Newmont Mining Corp. during the second quarter valued at $45,328,000. Natixis boosted its position in shares of Newmont Mining Corp. by 152.9% in the first quarter. Natixis now owns 1,372,022 shares of the company’s stock valued at $36,468,000 after buying an additional 829,587 shares in the last quarter. Finally, Euclid Advisors LLC bought a new position in shares of Newmont Mining Corp. during the first quarter valued at $21,875,000. Institutional investors own 79.72% of the company’s stock.
Newmont Mining Corp. (NYSE:NEM) traded down 1.67% during midday trading on Friday, reaching $34.23. The company’s stock had a trading volume of 4,869,786 shares. The company has a 50 day moving average price of $38.39 and a 200 day moving average price of $36.81. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 462.57 and a beta of 0.25. Newmont Mining Corp. has a 1-year low of $16.05 and a 1-year high of $46.07.
Newmont Mining Corp. (NYSE:NEM) last issued its earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. The business earned $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. On average, equities research analysts expect that Newmont Mining Corp. will post $1.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Tuesday, September 13th. Newmont Mining Corp.’s payout ratio is currently 166.69%.
NEM has been the subject of several recent research reports. Credit Suisse Group AG reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, September 19th. BMO Capital Markets reiterated an “outperform” rating and set a $45.00 price target on shares of Newmont Mining Corp. in a research report on Tuesday, July 5th. Vetr upgraded Newmont Mining Corp. from a “buy” rating to a “strong-buy” rating and set a $45.64 price target for the company in a research report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, June 27th. Finally, Morgan Stanley initiated coverage on Newmont Mining Corp. in a research report on Tuesday, August 9th. They set an “equal weight” rating and a $41.00 price target for the company. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Newmont Mining Corp. currently has an average rating of “Buy” and a consensus price target of C$37.47.
In related news, EVP E Randall Engel sold 8,700 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of C$42.55, for a total value of C$370,185.00. Following the completion of the transaction, the executive vice president now directly owns 219,389 shares of the company’s stock, valued at approximately C$9,335,001.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen P. Gottesfeld sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of C$41.59, for a total value of C$415,900.00. Following the completion of the transaction, the executive vice president now directly owns 122,857 shares of the company’s stock, valued at C$5,109,622.63. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Mining Corp. (NYSE:NEM).
Receive News & Ratings for Newmont Mining Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining Corp. and related companies with MarketBeat.com's FREE daily email newsletter.