Carmignac Gestion adds Newmont Mining Corp (NEM) to its portfolio

Newmont Mining Corp (NEM) : Carmignac Gestion added new position in Newmont Mining Corp during the most recent quarter end. The investment management firm now holds 12,643,598 shares of Newmont Mining Corp which is valued at $430.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.Newmont Mining Corp makes up approximately 4.06% of Carmignac Gestion’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. boosted its stake in NEM in the latest quarter, The investment management firm added 119,391 additional shares and now holds a total of 367,693 shares of Newmont Mining Corp which is valued at $12.5 Million. Newmont Mining Corp makes up approx 0.05% of I.g. Investment Management Ltd.’s portfolio.Boston Partners reduced its stake in NEM by selling 69 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 10,112 shares of NEM which is valued at $344,516. Snow Capital Management Lp sold out all of its stake in NEM during the most recent quarter. The investment firm sold 33,793 shares of NEM which is valued $1.2 Million.Advantus Capital Management Inc boosted its stake in NEM in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 50,924 shares of Newmont Mining Corp which is valued at $1.7 Million. Newmont Mining Corp makes up approx 0.05% of Advantus Capital Management Inc’s portfolio.Amica Pension Fund Board Of Trustees reduced its stake in NEM by selling 92,482 shares or 82.32% in the most recent quarter. The Hedge Fund company now holds 19,867 shares of NEM which is valued at $678,061. Newmont Mining Corp makes up approx 0.09% of Amica Pension Fund Board Of Trustees’s portfolio.

Newmont Mining Corp opened for trading at $31.58 and hit $32.6599 on the upside on Wednesday, eventually ending the session at $32.38, with a gain of 2.02% or 0.64 points. The heightened volatility saw the trading volume jump to 1,05,62,254 shares. Company has a market cap of $17,179 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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