Institutional Investors Are Dumping Newmont Mining Corp (NYSE:NEM)

July 16, 2018 - By Victoria Pittman

Newmont Mining Corporation (NYSE:NEM) Logo

Sentiment for Newmont Mining Corp (NYSE:NEM)

Newmont Mining Corp (NYSE:NEM) institutional sentiment decreased to 1.02 in 2018 Q1. Its down -0.04, from 1.06 in 2017Q4. The ratio has worsened, as 226 institutional investors increased or started new equity positions, while 221 decreased and sold their positions in Newmont Mining Corp. The institutional investors in our partner’s database reported: 428.96 million shares, up from 428.87 million shares in 2017Q4. Also, the number of institutional investors holding Newmont Mining Corp in their top 10 equity positions increased from 14 to 16 for an increase of 2. Sold All: 38 Reduced: 183 Increased: 161 New Position: 65.

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company has market cap of $19.55 billion. The firm primarily acquires, develops, explores for, and produces gold. It has a 416.48 P/E ratio. It also explores for silver and copper properties.

The stock decreased 0.52% or $0.19 during the last trading session, reaching $36.65. About 1.69 million shares traded. Newmont Mining Corporation (NYSE:NEM) has risen 17.98% since July 16, 2017 and is uptrending. It has outperformed by 5.41% the S&P500.

Analysts await Newmont Mining Corporation (NYSE:NEM) to report earnings on July, 26 before the open. They expect $0.31 EPS, down 32.61 % or $0.15 from last year’s $0.46 per share. NEM’s profit will be $165.38M for 29.56 P/E if the $0.31 EPS becomes a reality. After $0.35 actual EPS reported by Newmont Mining Corporation for the previous quarter, Wall Street now forecasts -11.43 % negative EPS growth.

Asa Gold & Precious Metals Ltd holds 14.7% of its portfolio in Newmont Mining Corporation for 570,368 shares. Foundation Resource Management Inc owns 908,794 shares or 7.14% of their US portfolio. Moreover, Van Eck Associates Corp has 5.84% invested in the company for 30.09 million shares. The New York-based D.C. Capital Advisors Ltd has invested 5.72% in the stock. Knightsbridge Asset Management Llc, a California-based fund reported 204,741 shares.

Since January 1, 0001, it had 0 insider buys, and 27 insider sales for $3.17 million activity.

Newmont Mining Corporation (NYSE:NEM) Ratings Coverage

Ratings analysis reveals 38% of Newmont Mining Corporation’s analysts are positive. Out of 8 Wall Street analysts rating Newmont Mining Corporation, 3 give it “Buy”, 1 “Sell” rating, while 4 recommend “Hold”. The lowest target is $41 while the high is $49. The stock’s average target of $43.43 is 18.50% above today’s ($36.65) share price. NEM was included in 10 notes of analysts from February 2, 2018. Deutsche Bank maintained Newmont Mining Corporation (NYSE:NEM) on Wednesday, April 11 with “Hold” rating. Bank of America maintained Newmont Mining Corporation (NYSE:NEM) on Monday, February 26 with “Buy” rating. The company was upgraded on Tuesday, June 12 by Morgan Stanley. The firm has “Neutral” rating given on Thursday, March 1 by Citigroup. The firm has “Neutral” rating given on Tuesday, February 27 by B. Riley & Co. RBC Capital Markets downgraded Newmont Mining Corporation (NYSE:NEM) on Monday, March 12 to “Sell” rating. As per Friday, February 2, the company rating was maintained by RBC Capital Markets. On Wednesday, March 28 the stock rating was maintained by BMO Capital Markets with “Buy”. The company was maintained on Tuesday, April 3 by RBC Capital Markets.

Newmont Mining Corporation (NYSE:NEM) Institutional Positions Chart

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