Tocqueville Asset Management L.P. Sells 122,600 Shares of Newmont Mining Corporation (NEM)

Tocqueville Asset Management L.P. lowered its stake in Newmont Mining Corporation (NYSE:NEM) by 5.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,300,379 shares of the basic materials company’s stock after selling 122,600 shares during the quarter. Newmont Mining Corporation makes up about 1.0% of Tocqueville Asset Management L.P.’s holdings, making the stock its 14th biggest position. Tocqueville Asset Management L.P. owned about 0.43% of Newmont Mining Corporation worth $86,287,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of NEM. Smith Affiliated Capital Corp. raised its holdings in Newmont Mining Corporation by 8.6% in the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 300 shares during the last quarter. Sun Life Financial INC raised its holdings in Newmont Mining Corporation by 43,144.4% in the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 3,883 shares during the last quarter. Parametrica Management Ltd acquired a new position in Newmont Mining Corporation in the 3rd quarter valued at $222,000. Banced Corp raised its holdings in 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 acquiring an additional 1,126 shares during the last quarter. Finally, Veritable L.P. raised its holdings in Newmont Mining Corporation by 4.6% in the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 370 shares during the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Elaine J. Dorward-King sold 10,250 shares of Newmont Mining Corporation stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total transaction of $392,267.50. Following the sale, the executive vice president now directly owns 82,114 shares in the company, valued at approximately $3,142,502.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.60, for a total transaction of $38,600.00. Following the sale, the insider now owns 334,730 shares in the company, valued at $12,920,578. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,750 shares of company stock worth $752,405. Insiders own 0.32% of the company’s stock.

Newmont Mining Corporation (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue was up 4.9% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.30 annualized dividend and a dividend yield of 0.83%. Newmont Mining Corporation’s payout ratio is 200.00%.

Several research analysts have weighed in on the company. TheStreet upgraded Newmont Mining Corporation from a “c+” rating to a “b” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, October 18th. Royal Bank Of Canada set a $41.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a report on Monday, August 28th. TD Securities set a $42.00 price target on Newmont Mining Corporation and gave the company a “hold” rating in a report on Thursday, October 19th. Finally, Argus upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corporation has a consensus rating of “Buy” and a consensus price target of $40.65.

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Newmont Mining Corporation Company 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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