Aveo Capital Partners LLC Maintains Position in Newmont Mining Corporation (NEM)

Aveo Capital Partners LLC held its position in Newmont Mining Corporation (NYSE:NEM) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,125 shares of the basic materials company’s stock at the end of the second quarter. Aveo Capital Partners LLC’s holdings in Newmont Mining Corporation were worth $555,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Cleararc Capital Inc. increased its position in Newmont Mining Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 12,988 shares of the basic materials company’s stock worth $428,000 after buying an additional 73 shares in the last quarter. Advisor Partners LLC increased its position in Newmont Mining Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 11,349 shares of the basic materials company’s stock worth $374,000 after buying an additional 84 shares in the last quarter. Parkwood LLC increased its position in Newmont Mining Corporation by 0.9% in the first quarter. Parkwood LLC now owns 19,149 shares of the basic materials company’s stock worth $631,000 after buying an additional 170 shares in the last quarter. P.R. Herzig & Co. Inc. increased its position in Newmont Mining Corporation by 0.5% in the first quarter. P.R. Herzig & Co. Inc. now owns 43,100 shares of the basic materials company’s stock worth $1,421,000 after buying an additional 200 shares in the last quarter. Finally, Advantus Capital Management Inc increased its position in Newmont Mining Corporation by 0.4% in the first quarter. Advantus Capital Management Inc now owns 53,529 shares of the basic materials company’s stock worth $1,764,000 after buying an additional 224 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Shares of Newmont Mining Corporation (NEM) traded down 0.61% during mid-day trading on Friday, hitting $35.83. 7,433,051 shares of the stock traded hands. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $43.83. The company’s 50 day moving average is $34.88 and its 200 day moving average is $34.36. The firm’s market capitalization is $19.11 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, topping analysts’ consensus estimates of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm earned $0.44 earnings per share. Newmont Mining Corporation’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts expect that Newmont Mining Corporation will post $1.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 13th. Newmont Mining Corporation’s dividend payout ratio (DPR) is currently -22.22%.

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A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Newmont Mining Corporation to $54.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Royal Bank Of Canada set a $40.00 target price on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, June 12th. BidaskClub upgraded shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Raymond James Financial, Inc. began coverage on shares of Newmont Mining Corporation in a report on Thursday, June 15th. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, TD Securities reiterated a “hold” rating and issued a $48.50 target price on shares of Newmont Mining Corporation in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.78.

In related news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total transaction of $37,110.00. Following the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at $12,421,830.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $37.11, for a total transaction of $46,387.50. Following the transaction, the chief operating officer now directly owns 90,612 shares in the company, valued at $3,362,611.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,907 shares of company stock worth $803,461. 0.32% of the stock is owned by 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.

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

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