Westpac Banking Corp Sells 63,912 Shares of Newmont Mining Corporation (NEM)

Westpac Banking Corp trimmed its holdings in Newmont Mining Corporation (NYSE:NEM) by 64.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,267 shares of the basic materials company’s stock after selling 63,912 shares during the period. Westpac Banking Corp’s holdings in Newmont Mining Corporation were worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cleararc Capital Inc. grew 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 acquiring an additional 73 shares in the last quarter. Parkwood LLC grew 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 acquiring an additional 170 shares in the last quarter. Advantus Capital Management Inc grew 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 acquiring an additional 224 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Newmont Mining Corporation by 0.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 66,675 shares of the basic materials company’s stock worth $2,198,000 after acquiring an additional 233 shares in the last quarter. Finally, Legacy Capital Partners Inc. grew its position in Newmont Mining Corporation by 2.8% in the first quarter. Legacy Capital Partners Inc. now owns 9,865 shares of the basic materials company’s stock worth $326,000 after acquiring an additional 265 shares in the last quarter. 81.08% of the stock is owned by institutional investors.

NEM has been the subject of several recent research reports. Scotiabank raised shares of Newmont Mining Corporation from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $43.00 to $43.50 in a research report on Wednesday, July 5th. Deutsche Bank AG reaffirmed a “buy” rating and set a $42.00 price objective (down from $44.00) on shares of Newmont Mining Corporation in a report on Sunday, June 25th. 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 report on Monday, August 28th. Credit Suisse Group set a $45.00 price objective on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, BidaskClub downgraded shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Two research 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 company. The company has an average rating of “Buy” and an average price target of $40.96.

In other news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.60, for a total transaction of $48,250.00. Following the completion of the sale, the chief operating officer now owns 89,362 shares of the company’s stock, valued at $3,449,373.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $31,800.00. Following the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at approximately $10,644,414. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,457 shares of company stock valued at $690,811. Company insiders own 0.32% of the company’s stock.

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Newmont Mining Corporation (NYSE:NEM) opened at 39.31 on Friday. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $41.97. The company’s 50-day moving average is $36.88 and its 200 day moving average is $34.44. The firm’s market capitalization is $20.96 billion.

Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings data 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 negative net margin of 6.73% and a positive return on equity of 6.67%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $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 expect that Newmont Mining Corporation will post $1.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders 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 0.76%. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 13th. Newmont Mining Corporation’s payout ratio is -22.22%.

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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