NEWMONT MINING CORP REDUCES STAKE IN PEABODY Newmont Mining Corp said it completed the previously announced reduction of its share in <Peabody Holding Co Inc> to 49.97 pct from 61.47 pct. Newmont realized 116.8 mln dlrs in the transaction. For 1986, Newmont reported net income of 74.2 mln dlrs. Peabody, the largest coal producer in the U.S., had net income of 100.8 mln dlrs on sales of 1.4 billion dlrs in 1986. Newmont doubled its ownership in Peabody in January by purchasing 30.74 pct interest held by the Williams Cos for 320 mln dlrs. The reduction resulted from completion of an earlier announced agreement by Peabody to sell a 15.01 pct interest in the company to Eastern Gas and Fuel Associates in exchange for all the coal properties owned by Eastern.