Hussman Strategic Advisors Lowers stake in Newmont Mining Corp (NEM)

Newmont Mining Corp (NEM) : Hussman Strategic Advisors reduced its stake in Newmont Mining Corp by 51.35% during the most recent quarter end. The investment management company now holds a total of 450,000 shares of Newmont Mining Corp which is valued at $20,259,000 after selling 475,000 shares in Newmont Mining Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Newmont Mining Corp makes up approximately 2.99% of Hussman Strategic Advisors’s portfolio.

Other Hedge Funds, Including , Ngam Advisors reduced its stake in NEM by selling 18,305 shares or 20.3% in the most recent quarter. The Hedge Fund company now holds 71,878 shares of NEM which is valued at $3,235,948. Newmont Mining Corp makes up approx 0.04% of Ngam Advisors’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in NEM by selling 6,246 shares or 5.47% in the most recent quarter. The Hedge Fund company now holds 107,960 shares of NEM which is valued at $4,750,240. Newmont Mining Corp makes up approx 0.04% of Public Employees Retirement Association Of Colorado’s portfolio.Capital Fund Management S.a. reduced its stake in NEM by selling 375,069 shares or 18.77% in the most recent quarter. The Hedge Fund company now holds 1,623,190 shares of NEM which is valued at $68,693,401. Newmont Mining Corp makes up approx 1.18% of Capital Fund Management S.a.’s portfolio.Parkwood reduced its stake in NEM by selling 4,062 shares or 14.75% in the most recent quarter. The Hedge Fund company now holds 23,479 shares of NEM which is valued at $968,978. Newmont Mining Corp makes up approx 0.16% of Parkwood’s portfolio.Foundation Resource Management Inc reduced its stake in NEM by selling 1,918 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 1,053,215 shares of NEM which is valued at $43,329,265. Newmont Mining Corp makes up approx 8.01% of Foundation Resource Management Inc’s portfolio.

Newmont Mining Corp closed down -0.11 points or -0.24% at $44.91 with 54,11,650 shares getting traded on Thursday. Post opening the session at $45.09, the shares hit an intraday low of $44.835 and an intraday high of $45.44 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

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. Citigroup Initiated Newmont Mining Corp on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $51.Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $31 .Newmont Mining Corp was Downgraded by Jefferies to ” Hold” on Jun 2, 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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