Gareth Morgan Investments Limited Partnership adds Newmont Mining Corp (NEM) to its portfolio

Newmont Mining Corp (NEM) : Gareth Morgan Investments Limited Partnership added new position in Newmont Mining Corp during the most recent quarter end. The investment management firm now holds 481,238 shares of Newmont Mining Corp which is valued at $21,737,520 , the company said in a statement filed on Aug 11, 2016 with the SEC.Newmont Mining Corp makes up approximately 2.03% of Gareth Morgan Investments Limited Partnership’s portfolio.

Other Hedge Funds, Including , Cannell Peter B Co Inc reduced its stake in NEM by selling 6,295 shares or 34.04% in the most recent quarter. The Hedge Fund company now holds 12,200 shares of NEM which is valued at $551,074. Newmont Mining Corp makes up approx 0.02% of Cannell Peter B Co Inc’s portfolio. Clear Harbor Asset Management added NEM to its portfolio by purchasing 6,530 company shares during the most recent quarter which is valued at $290,128. Newmont Mining Corp makes up approx 0.06% of Clear Harbor Asset Management’s portfolio.

Newmont Mining Corp closed down -0.17 points or -0.39% at $43.15 with 39,91,880 shares getting traded on Tuesday. Post opening the session at $43.76, the shares hit an intraday low of $43.08 and an intraday high of $43.825 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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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