Otter Creek Advisors buys $6,792,710 stake in Newmont Mining Corp (NEM)

Newmont Mining Corp (NEM) : Otter Creek Advisors scooped up 7,381 additional shares in Newmont Mining Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 150,381 shares of Newmont Mining Corp which is valued at $6,792,710.Newmont Mining Corp makes up approximately 2.67% of Otter Creek Advisors’s portfolio.

Other Hedge Funds, Including , Sensato Investors added NEM to its portfolio by purchasing 63,000 company shares during the most recent quarter which is valued at $2,845,710. Newmont Mining Corp makes up approx 0.47% of Sensato Investors’s portfolio.Massmutual Trust Co Fsbadv reduced its stake in NEM by selling 500 shares or 96.34% in the most recent quarter. The Hedge Fund company now holds 19 shares of NEM which is valued at $858.Rothschild Asset Management Inc reduced its stake in NEM by selling 3,492 shares or 21.27% in the most recent quarter. The Hedge Fund company now holds 12,922 shares of NEM which is valued at $581,748. Newmont Mining Corp makes up approx 0.01% of Rothschild Asset Management Inc’s portfolio.Lmr Partners Llp boosted its stake in NEM in the latest quarter, The investment management firm added 12,349 additional shares and now holds a total of 72,498 shares of Newmont Mining Corp which is valued at $3,189,912. Newmont Mining Corp makes up approx 0.48% of Lmr Partners Llp’s portfolio. Fny Managed Accounts added NEM to its portfolio by purchasing 11,250 company shares during the most recent quarter which is valued at $476,100. Newmont Mining Corp makes up approx 0.47% of Fny Managed Accounts’s portfolio.

Newmont Mining Corp opened for trading at $41.76 and hit $42.12 on the upside on Wednesday, eventually ending the session at $42.09, with a gain of 0.21% or 0.09 points. The heightened volatility saw the trading volume jump to 5,033,421 shares. Company has a market cap of $22,333 M.

On the company’s financial health, Newmont Mining Corp reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.30. The company had revenue of $2038.00 million for the quarter, compared to analysts expectations of $1898.09 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Investors should note that on Jul 20, 2016, Newmont Mining Corp announced a cash dividend of $0.0250. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on Newmont Mining Corp. Newmont Mining Corp was Initiated by Morgan Stanley to “Equal-Weight” on Aug 9, 2016. Company shares were Reiterated by Barclays on Aug 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $38 .Citigroup Initiated Newmont Mining Corp on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $51.

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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