Trexquant Investment Lp adds Newmont Mining Corp (NEM) to its portfolio

Newmont Mining Corp (NEM) : Trexquant Investment Lp added new position in Newmont Mining Corp during the most recent quarter end. The investment management firm now holds 121,600 shares of Newmont Mining Corp which is valued at $4.1 Million , the company said in a statement filed on May 11, 2016 with the SEC.Newmont Mining Corp makes up approximately 0.49% of Trexquant Investment Lp’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in NEM in the latest quarter, The investment management firm added 231,838 additional shares and now holds a total of 254,468 shares of Newmont Mining Corp which is valued at $8.7 Million. Newmont Mining Corp makes up approx 0.06% of Teacher Retirement System Of Texas’s portfolio.Tobam reduced its stake in NEM by selling 525,731 shares or 25.22% in the most recent quarter. The Hedge Fund company now holds 1,558,517 shares of NEM which is valued at $53.1 Million. Newmont Mining Corp makes up approx 2.11% of Tobam’s portfolio. United Asset Strategies added NEM to its portfolio by purchasing 9,575 company shares during the most recent quarter which is valued at $326,795. Newmont Mining Corp makes up approx 0.14% of United Asset Strategies’s portfolio.Pacad Investment Ltd. reduced its stake in NEM by selling 32,297 shares or 34.47% in the most recent quarter. The Hedge Fund company now holds 61,400 shares of NEM which is valued at $2.1 Million. Newmont Mining Corp makes up approx 0.24% of Pacad Investment Ltd.’s portfolio. Donald Smith added NEM to its portfolio by purchasing 180,600 company shares during the most recent quarter which is valued at $6.2 Million. Newmont Mining Corp makes up approx 0.16% of Donald Smith’s portfolio.

Newmont Mining Corp opened for trading at $34.69 and hit $35.54 on the upside on Monday, eventually ending the session at $35.42, with a gain of 3.96% or 1.35 points. The heightened volatility saw the trading volume jump to 1,20,33,176 shares. Company has a market cap of $18,791 M.

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.

Investors should note that on Apr 19, 2016, Newmont Mining Corp announced a cash dividend of $0.0250. The company’s management has announced Jun 7, 2016 as the ex-dividend date and fixed the record date on Jun 9, 2016. The payable date has been fixed on Jun 23, 2016.

Many Wall Street Analysts have commented on Newmont Mining Corp. Newmont Mining Corp was Upgraded by Goldman to ” Buy” on May 11, 2016. Company shares were Upgraded by RBC Capital Mkts on Apr 26, 2016 to ” Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $34 .Newmont Mining Corp was Downgraded by Standpoint Research to ” Hold” on Mar 18, 2016.

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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