P.r. Herzig Lowers stake in Newmont Mining Corp (NEM)

Newmont Mining Corp (NEM) : P.r. Herzig reduced its stake in Newmont Mining Corp by 8.73% during the most recent quarter end. The investment management company now holds a total of 43,900 shares of Newmont Mining Corp which is valued at $1,502,697 after selling 4,200 shares in Newmont Mining Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Newmont Mining Corp makes up approximately 3.02% of P.r. Herzig’s portfolio.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in NEM in the latest quarter, The investment management firm added 3,489 additional shares and now holds a total of 126,462 shares of Newmont Mining Corp which is valued at $4,328,794. Newmont Mining Corp makes up approx 0.10% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Legal General Group Plc reduced its stake in NEM by selling 47,209 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 3,009,344 shares of NEM which is valued at $101,866,294. Newmont Mining Corp makes up approx 0.10% of Legal General Group Plc’s portfolio.Capstone Asset Management Co boosted its stake in NEM in the latest quarter, The investment management firm added 1,590 additional shares and now holds a total of 82,458 shares of Newmont Mining Corp which is valued at $2,791,203. Newmont Mining Corp makes up approx 0.08% of Capstone Asset Management Co’s portfolio.Cutler Group Lp reduced its stake in NEM by selling 12,994 shares or 35.13% in the most recent quarter. The Hedge Fund company now holds 23,990 shares of NEM which is valued at $817,099. Newmont Mining Corp makes up approx 0.05% of Cutler Group Lp’s portfolio.

Newmont Mining Corp closed down -0.58 points or -1.67% at $34.23 with 48,75,268 shares getting traded on Friday. Post opening the session at $34.35, the shares hit an intraday low of $34.22 and an intraday high of $35.02 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

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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