California Public Employees Retirement System Sells 15,600 Shares of Newmont Mining Corporation (NEM)

California Public Employees Retirement System lowered its position in shares of Newmont Mining Corporation (NYSE:NEM) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,447,916 shares of the basic materials company’s stock after selling 15,600 shares during the period. California Public Employees Retirement System owned 0.27% of Newmont Mining Corporation worth $46,898,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Newmont Mining Corporation by 24.6% during the second quarter. FMR LLC now owns 4,964,974 shares of the basic materials company’s stock worth $160,816,000 after acquiring an additional 979,529 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Newmont Mining Corporation by 2.6% during 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 last quarter. D.A. Davidson & CO. grew its position in shares of Newmont Mining Corporation by 2.9% during the second quarter. D.A. Davidson & CO. now owns 15,800 shares of the basic materials company’s stock worth $511,000 after acquiring an additional 452 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Newmont Mining Corporation by 19.8% during the second quarter. GSA Capital Partners LLP now owns 20,757 shares of the basic materials company’s stock worth $672,000 after acquiring an additional 3,428 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Newmont Mining Corporation by 25.2% during the second quarter. Mutual of America Capital Management LLC now owns 84,466 shares of the basic materials company’s stock worth $2,736,000 after acquiring an additional 16,978 shares during the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.

NEM has been the subject of several recent research reports. Credit Suisse Group set a $45.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Deutsche Bank AG restated a “buy” rating and set a $42.00 price target (down previously from $44.00) on shares of Newmont Mining Corporation in a research report on Sunday, June 25th. Argus upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Monday, July 31st. Finally, BMO Capital Markets set a $40.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Two 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 company has a consensus rating of “Buy” and a consensus price target of $40.96.

In other news, EVP E Randall Engel sold 5,700 shares of Newmont Mining Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $37.11, for a total transaction of $211,527.00. Following the transaction, the executive vice president now owns 251,100 shares in the company, valued at approximately $9,318,321. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $38,600.00. Following the transaction, the insider now owns 334,730 shares in the company, valued at approximately $12,920,578. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $919,128 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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Shares of Newmont Mining Corporation (NYSE NEM) opened at 37.89 on Friday. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $41.97. The firm’s market capitalization is $20.21 billion. The firm has a 50-day moving average of $37.28 and a 200-day moving average of $34.58.

Newmont Mining Corporation (NYSE:NEM) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.20. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. On average, equities analysts predict that Newmont Mining Corporation will post $1.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.075 per share. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, September 13th. Newmont Mining Corporation’s payout ratio is presently -33.33%.

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.

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

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