Newmont Mining Corp (NEM): Hedge Fund Interest Is In Decline, Obviously

Page 1 of 2

It’s pretty evident that with that recent failures in the gold markets, gold miners are struggling too. Newmont Mining Corp (NYSE:NEM) is no stranger to this, and the smart money seems to agree. Let’s see the details.

At the moment, there are tons of indicators investors can use to watch publicly traded companies. Some of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite investment managers can outclass their index-focused peers by a superb amount (see just how much).

Equally as useful, bullish insider trading sentiment is a second way to look at the stock market universe. Just as you’d expect, there are plenty of motivations for an insider to drop shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many academic studies have demonstrated the valuable potential of this strategy if piggybackers understand what to do (learn more here).

Now that that’s out of the way, we’re going to examine the recent info for Newmont Mining Corp (NYSE:NEM).

What does the smart money think about Newmont Mining Corp (NYSE:NEM)?

Heading into Q3, a total of 32 of the hedge funds we track were long in this stock, a change of -14% from the first quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were upping their holdings meaningfully.

Newmont Mining Corp (NYSE:NEM)When using filings from the hedgies we track, First Eagle Investment Management, managed by Matt McLennan, holds the most valuable position in Newmont Mining Corp (NYSE:NEM). First Eagle Investment Management has a $183.4 million position in the stock, comprising 0.6% of its 13F portfolio. On First Eagle Investment Management’s heels is D E Shaw, managed by D. E. Shaw, which held a $85.4 million position; 0.2% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions include Mario Gabelli’s GAMCO Investors, Gilchrist Berg’s Water Street Capital and Martin Whitman’s Third Avenue Management.

As Newmont Mining Corp (NYSE:NEM) has witnessed declining interest from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of fund managers that slashed their positions entirely at the end of the second quarter. It’s worth mentioning that Phill Gross and Robert Atchinson’s Adage Capital Management dumped the biggest investment of all the hedgies we key on, valued at about $22.1 million in stock. Julian Robertson’s fund, Tiger Management, also cut its stock, about $12.6 million worth. These bearish behaviors are important to note, as total hedge fund interest fell by 5 funds at the end of the second quarter.

What do corporate executives and insiders think about Newmont Mining Corp (NYSE:NEM)?

Bullish insider trading is best served when the company in question has seen transactions within the past six months. Over the latest 180-day time frame, Newmont Mining Corp (NYSE:NEM) has experienced 1 unique insiders purchasing, and 11 insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to Newmont Mining Corp (NYSE:NEM). These stocks are AngloGold Ashanti Limited (ADR) (NYSE:AU), Kinross Gold Corporation (USA) (NYSE:KGC), Yamana Gold Inc. (USA) (NYSE:AUY), Barrick Gold Corporation (USA) (NYSE:ABX), and Goldcorp Inc. (USA) (NYSE:GG). This group of stocks are in the gold industry and their market caps resemble NEM’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!