Newmont Mining Corporation (NEM) Insider Gary J. Goldberg Sells 1,000 Shares
Newmont Mining Corporation (NYSE:NEM) insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $37.35, for a total transaction of $37,350.00. Following the completion of the transaction, the insider now owns 334,730 shares of the company’s stock, valued at approximately $12,502,165.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Newmont Mining Corporation (NYSE NEM) traded up 0.92% during mid-day trading on Tuesday, hitting $38.23. 2,657,977 shares of the stock traded hands. The company has a 50-day moving average of $37.70 and a 200 day moving average of $34.93. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $39.63. The firm’s market capitalization is $20.39 billion.
Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $0.44 EPS. Newmont Mining Corporation’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont Mining Corporation will post $1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were given a $0.075 dividend. 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 dividend yield of 0.78%. The ex-dividend date of this dividend was Wednesday, September 13th. Newmont Mining Corporation’s dividend payout ratio (DPR) is currently -33.33%.
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NEM has been the subject of several recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $35.00 price target (down from $37.00) on shares of Newmont Mining Corporation in a research report on Friday, July 14th. Deutsche Bank AG reiterated a “buy” rating and set a $42.00 price target (down previously from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. Credit Suisse Group set a $45.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $41.00 price objective on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, August 28th. Finally, BidaskClub cut shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.96.
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Newmont Mining Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 54,285,832 shares of the basic materials company’s stock worth $1,758,317,000 after acquiring an additional 1,360,916 shares during the period. Van ECK Associates Corp boosted its holdings in 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 valued at $1,192,190,000 after acquiring an additional 1,656,051 shares in the last quarter. Carmignac Gestion boosted its holdings in Newmont Mining Corporation by 4.9% in the second quarter. Carmignac Gestion now owns 14,204,881 shares of the basic materials company’s stock valued at $460,096,000 after acquiring an additional 659,183 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Newmont Mining Corporation by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 9,445,025 shares of the basic materials company’s stock valued at $305,925,000 after acquiring an additional 309,739 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in 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 valued at $289,345,000 after acquiring an additional 534,550 shares in the last quarter. 81.08% of the stock is currently owned by hedge funds and other institutional investors.
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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