Capital Innovations LLC Maintains Position in Newmont Mining Corporation (NEM)

Capital Innovations LLC held its stake in shares of Newmont Mining Corporation (NYSE:NEM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,840 shares of the basic materials company’s stock at the close of the second quarter. Capital Innovations LLC’s holdings in Newmont Mining Corporation were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Newmont Mining Corporation by 0.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 50,318 shares of the basic materials company’s stock worth $1,630,000 after acquiring an additional 353 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Newmont Mining Corporation by 11.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 614,233 shares of the basic materials company’s stock worth $19,894,000 after acquiring an additional 63,186 shares during the period. Gyroscope Capital Management Group LLC boosted its stake in shares of Newmont Mining Corporation by 43.7% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 9,910 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 3,012 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Newmont Mining Corporation by 4.3% during the 2nd quarter. Moors & Cabot Inc. now owns 14,189 shares of the basic materials company’s stock worth $453,000 after acquiring an additional 589 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Newmont Mining Corporation by 93.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 44,809 shares of the basic materials company’s stock worth $1,451,000 after acquiring an additional 21,594 shares during the period. Institutional investors own 81.07% of the company’s stock.

Several research analysts have recently commented on the company. Royal Bank Of Canada set a $40.00 target price on Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, June 12th. BidaskClub upgraded Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. TD Securities boosted their price target on Newmont Mining Corporation from $36.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. initiated coverage on Newmont Mining Corporation in a research note on Thursday, June 15th. They issued an “outperform” rating and a $43.00 price target for the company. Finally, Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.96.

Shares of Newmont Mining Corporation (NYSE:NEM) traded down 0.462% during trading on Tuesday, reaching $38.103. The company’s stock had a trading volume of 1,086,613 shares. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $39.63. The stock has a 50-day moving average of $37.94 and a 200-day moving average of $35.06. The stock’s market cap is $20.32 billion.

Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts predict that Newmont Mining Corporation will post $1.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were issued 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 was Wednesday, September 13th. Newmont Mining Corporation’s dividend payout ratio (DPR) is presently -33.33%.

In other news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.35, for a total value of $46,687.50. Following the completion of the transaction, the chief operating officer now directly owns 88,112 shares of the company’s stock, valued at $3,290,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.35, for a total value of $37,350.00. Following the completion of the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at $12,502,165.50. The disclosure for this sale can be found here. Insiders sold 29,707 shares of company stock valued at $1,120,866 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

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Newmont Mining Corporation Profile

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

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