Northern Trust Corp Sells 144,986 Shares of Newmont Mining Corporation (NEM)
Northern Trust Corp lessened its stake in shares of Newmont Mining Corporation (NYSE:NEM) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,257,197 shares of the basic materials company’s stock after selling 144,986 shares during the period. Northern Trust Corp owned 1.55% of Newmont Mining Corporation worth $267,450,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Smith Affiliated Capital Corp. increased its stake in Newmont Mining Corporation by 8.6% during the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 300 shares during the period. WFG Advisors LP increased its stake in shares of Newmont Mining Corporation 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 purchasing an additional 1,706 shares during the last quarter. Boston Private Wealth LLC bought a new position in shares of Newmont Mining Corporation in the 1st quarter valued at $222,000. Brighton Jones LLC bought a new position in shares of Newmont Mining Corporation in the 1st quarter valued at $258,000. Finally, Banced Corp increased its stake in shares of Newmont Mining Corporation 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 purchasing an additional 1,126 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.
Newmont Mining Corporation (NYSE NEM) opened at 37.89 on Friday. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $41.97. The firm’s market capitalization is $20.21 billion. The firm’s 50-day moving average price is $37.28 and its 200 day moving average price is $34.58.
Newmont Mining Corporation (NYSE:NEM) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Mining Corporation will post $1.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.075 per share. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, September 13th. Newmont Mining Corporation’s dividend payout ratio (DPR) is -33.33%.
Several brokerages have recently issued reports on NEM. Royal Bank Of Canada set a $41.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Monday, August 28th. Zacks Investment Research upgraded 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. Argus upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, July 27th. BidaskClub upgraded Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets set a $40.00 price target on Newmont Mining Corporation and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $40.96.
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In other news, EVP William N. Macgowan sold 2,007 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $36.59, for a total transaction of $73,436.13. Following the transaction, the executive vice president now directly owns 127,178 shares of the company’s stock, valued at $4,653,443.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,921,211.60. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $919,128 over the last ninety days. Insiders own 0.32% of the company’s stock.
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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