Janney Montgomery Scott LLC reduced its position in Newmont Mining Corporation (NYSE:NEM) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,022 shares of the basic materials company’s stock after selling 1,710 shares during the period. Janney Montgomery Scott LLC’s holdings in Newmont Mining Corporation were worth $1,329,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Newmont Mining Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock worth $1,744,405,000 after buying an additional 1,671,897 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Newmont Mining Corporation by 4.8% in the first quarter. Van ECK Associates Corp now owns 36,170,799 shares of the basic materials company’s stock worth $1,192,190,000 after buying an additional 1,656,051 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Newmont Mining Corporation by 55.8% in the first quarter. Bank of New York Mellon Corp now owns 9,135,286 shares of the basic materials company’s stock worth $301,099,000 after buying an additional 3,273,420 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Newmont Mining Corporation by 6.4% in the second quarter. APG Asset Management N.V. now owns 8,933,153 shares of the basic materials company’s stock worth $289,345,000 after buying an additional 534,550 shares in the last quarter. Finally, Flossbach Von Storch AG increased its stake in shares of Newmont Mining Corporation by 29.2% in the second quarter. Flossbach Von Storch AG now owns 7,873,186 shares of the basic materials company’s stock worth $255,012,000 after buying an additional 1,780,593 shares in the last quarter. Institutional investors own 81.85% of the company’s stock.

Newmont Mining Corporation (NEM) opened at 36.44 on Friday. The stock’s market cap is $19.43 billion. Newmont Mining Corporation has a 52 week low of $30.19 and a 52 week high of $46.07. The stock’s 50 day moving average price is $34.40 and its 200 day moving average price is $34.31.

Newmont Mining Corporation (NYSE:NEM) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $0.44 EPS. Newmont Mining Corporation’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that Newmont Mining Corporation will post $1.34 earnings per share for the current 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 paid a dividend of $0.075 per share. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 13th. This represents a $0.30 annualized dividend and a yield of 0.82%. Newmont Mining Corporation’s dividend payout ratio is presently -22.22%.

COPYRIGHT VIOLATION NOTICE: This report was first posted by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/11/janney-montgomery-scott-llc-has-1-33-million-stake-in-newmont-mining-corporation-nysenem.html.

A number of analysts have weighed in on NEM shares. Credit Suisse Group set a $45.00 target price on Newmont Mining Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 target price (down previously from $37.00) on shares of Newmont Mining Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Monday, July 31st. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 target price on shares of Newmont Mining Corporation in a research note on Friday, April 21st. Finally, Scotiabank increased their target price on 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, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.73.

In related news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $37.11, for a total transaction of $37,110.00. Following the transaction, the insider now owns 334,730 shares of the company’s stock, valued at approximately $12,421,830.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP E Randall Engel sold 5,700 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $35.00, for a total value of $199,500.00. Following the transaction, the executive vice president now directly owns 256,800 shares in the company, valued at approximately $8,988,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,907 shares of company stock worth $803,461. 0.32% of the stock is owned by corporate insiders.

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.

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 Corporation (NYSE:NEM).

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

Receive News & Ratings for Newmont Mining Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining Corporation and related companies with MarketBeat.com's FREE daily email newsletter.