Stevens Capital Management LP bought a new position in Newmont Mining Corp (NYSE:NEM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 122,364 shares of the basic materials company’s stock, valued at approximately $4,614,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Verity Asset Management Inc. acquired a new stake in Newmont Mining in the 1st quarter worth about $299,000. Daiwa Securities Group Inc. raised its stake in Newmont Mining by 14.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 17,729 shares of the basic materials company’s stock worth $693,000 after purchasing an additional 2,281 shares in the last quarter. WealthTrust Axiom LLC acquired a new stake in Newmont Mining in the 1st quarter worth about $1,898,000. Alps Advisors Inc. raised its stake in Newmont Mining by 121.9% in the 1st quarter. Alps Advisors Inc. now owns 493,158 shares of the basic materials company’s stock worth $19,268,000 after purchasing an additional 270,877 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in Newmont Mining by 55.2% in the 1st quarter. Wedbush Securities Inc. now owns 26,119 shares of the basic materials company’s stock worth $1,020,000 after purchasing an additional 9,291 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.

NEM traded up $0.16 during trading on Friday, reaching $30.38. 5,603,622 shares of the company’s stock were exchanged, compared to its average volume of 5,630,191. Newmont Mining Corp has a one year low of $29.16 and a one year high of $42.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95. The firm has a market capitalization of $16.09 billion, a price-to-earnings ratio of 20.81 and a beta of 0.18.

Newmont Mining (NYSE:NEM) last posted its earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. equities research analysts predict that Newmont Mining Corp will post 1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Wednesday, September 12th. Newmont Mining’s dividend payout ratio is currently 38.36%.

In other news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $30.53, for a total value of $38,162.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $37.47, for a total transaction of $149,880.00. Following the transaction, the insider now owns 138,533 shares in the company, valued at approximately $5,190,831.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,250 shares of company stock worth $703,443. Insiders own 0.36% of the company’s stock.

NEM has been the subject of several analyst reports. ValuEngine cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Citigroup dropped their target price on shares of Newmont Mining from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. Morgan Stanley upgraded shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, June 12th. Finally, Canaccord Genuity set a $40.00 target price on shares of Newmont Mining and gave the company a “hold” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.64.

Newmont Mining Company Profile

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

Further Reading: What is intrinsic value?

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

Receive News & Ratings for Newmont Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining and related companies with MarketBeat.com's FREE daily email newsletter.