Wilkins Investment Counsel Inc buys $11,287,391 stake in Newmont Mining Corp (NEM)

Newmont Mining Corp (NEM) : Wilkins Investment Counsel Inc scooped up 25,050 additional shares in Newmont Mining Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 331,300 shares of Newmont Mining Corp which is valued at $11,287,391.Newmont Mining Corp makes up approximately 3.31% of Wilkins Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Boston Financial Mangement Inc boosted its stake in NEM in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 22,300 shares of Newmont Mining Corp which is valued at $761,099. Newmont Mining Corp makes up approx 0.11% of Boston Financial Mangement Inc’s portfolio.Nippon Life Insurance Co reduced its stake in NEM by selling 40,590 shares or 58.32% in the most recent quarter. The Hedge Fund company now holds 29,013 shares of NEM which is valued at $990,214. Newmont Mining Corp makes up approx 0.02% of Nippon Life Insurance Co’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in NEM in the latest quarter, The investment management firm added 526 additional shares and now holds a total of 16,364 shares of Newmont Mining Corp which is valued at $558,503. Newmont Mining Corp makes up approx 0.06% of Tokio Marine Asset Management Co Ltd’s portfolio.Great West Life Assurance Co Can reduced its stake in NEM by selling 1,179,704 shares or 46.3% in the most recent quarter. The Hedge Fund company now holds 1,368,093 shares of NEM which is valued at $47,842,212. Newmont Mining Corp makes up approx 0.17% of Great West Life Assurance Co Can’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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