Bennicas Associates Lowers stake in Newmont Mining Corp (NEM)

Newmont Mining Corp (NEM) : Bennicas Associates reduced its stake in Newmont Mining Corp by 3.54% during the most recent quarter end. The investment management company now holds a total of 87,068 shares of Newmont Mining Corp which is valued at $2,719,134 after selling 3,200 shares in Newmont Mining Corp , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Newmont Mining Corp makes up approximately 2.53% of Bennicas Associates’s portfolio.

Newmont Mining Corp closed down -0.96 points or -2.98% at $31.23 with 77,38,260 shares getting traded on Friday. Post opening the session at $31.85, the shares hit an intraday low of $30.67 and an intraday high of $32.3499 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , New York State Teachers Retirement System reduced its stake in NEM by selling 18,496 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 938,697 shares of NEM which is valued at $29,315,507. Newmont Mining Corp makes up approx 0.08% of New York State Teachers Retirement System’s portfolio. Benjamin F. Edwards Company added NEM to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $14,685. Central Bank Trust Co added NEM to its portfolio by purchasing 150 company shares during the most recent quarter which is valued at $4,406. Chelsea Counsel Co sold out all of its stake in NEM during the most recent quarter. The investment firm sold 25,760 shares of NEM which is valued $801,394.

On the company’s financial health, Newmont Mining Corp reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.19. The company had revenue of $2032.00 million for the quarter, compared to analysts expectations of $1869.98 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Newmont Mining Corp. Newmont Mining Corp was Downgraded by Standpoint Research to ” Hold” on Mar 18, 2016. Newmont Mining Corp was Downgraded by BofA/Merrill to ” Neutral” on Mar 11, 2016. Company shares were Reiterated by RBC Capital Mkts on Mar 7, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 25 from a previous price target of $20 .

Newmont Mining Corporation (Newmont) is a global 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 Indonesia Ghana New Zealand and Suriname. The Company’s business segments include North America South America Asia Pacific and Africa. The Company’s North America segment consists primarily of Carlin Phoenix CC&V and Twin Creeks in the state of Nevada in the United States. The Company’s South America segment consists primarily of Yanacocha in Peru. The Company’s Asia Pacific segment consists primarily of Boddington Tanami and Kalgoorlie in Australia and Batu Hijau in Indonesia. The Company’s Africa segment consists primarily of Ahafo and Akyem in Ghana. The Company’s product at its gold operations is dore bars. Dore is an alloy consisting primarily of gold as well as silver and other metals.

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