Deutsche Bank set a $41.00 target price on Newmont Goldcorp (NYSE:NEM) in a report issued on Thursday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the basic materials company’s stock.
NEM has been the topic of a number of other research reports. Desjardins reaffirmed a buy rating and set a $43.00 price target on shares of Newmont Goldcorp in a research report on Thursday, April 4th. Raymond James set a $33.00 price target on LKQ and gave the company a buy rating in a research report on Friday, April 26th. Zacks Investment Research cut Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. TD Securities dropped their price objective on Northern Dynasty Minerals from C$1.30 to C$0.90 and set a hold rating on the stock in a report on Tuesday, June 25th. Finally, Royal Bank of Canada dropped their price objective on Newmont Goldcorp to $39.00 and set an underperform rating on the stock in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $41.56.
Shares of NYSE NEM opened at $39.42 on Thursday. Newmont Goldcorp has a one year low of $29.06 and a one year high of $39.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.62. The company’s fifty day moving average price is $36.08. The stock has a market cap of $32.31 billion, a PE ratio of 29.20 and a beta of 0.04.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts forecast that Newmont Goldcorp will post 1.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.42%. Newmont Goldcorp’s dividend payout ratio (DPR) is 41.48%.
In other Newmont Goldcorp news, EVP Nancy Lipson sold 5,055 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $39.00, for a total value of $197,145.00. Following the transaction, the executive vice president now directly owns 27,825 shares in the company, valued at approximately $1,085,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Kitlen sold 750 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $35.00, for a total value of $26,250.00. Following the completion of the transaction, the chief accounting officer now owns 44,923 shares in the company, valued at $1,572,305. The disclosure for this sale can be found here. Insiders have sold a total of 61,220 shares of company stock worth $2,141,220 in the last three months. 0.44% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NEM. BlackRock Inc. increased its stake in Newmont Goldcorp by 8.4% in the 1st quarter. BlackRock Inc. now owns 85,829,069 shares of the basic materials company’s stock worth $3,070,105,000 after acquiring an additional 6,653,939 shares during the last quarter. Norges Bank bought a new position in Newmont Goldcorp in the 4th quarter worth about $131,587,000. Deutsche Bank AG increased its stake in Newmont Goldcorp by 153.3% in the 4th quarter. Deutsche Bank AG now owns 5,597,008 shares of the basic materials company’s stock worth $193,928,000 after acquiring an additional 3,387,246 shares during the last quarter. Majedie Asset Management Ltd bought a new position in Newmont Goldcorp in the 1st quarter worth about $62,825,000. Finally, Hexavest Inc. increased its stake in Newmont Goldcorp by 167.8% in the 1st quarter. Hexavest Inc. now owns 2,260,600 shares of the basic materials company’s stock worth $80,862,000 after acquiring an additional 1,416,376 shares during the last quarter. Institutional investors and hedge funds own 60.72% of the company’s stock.
Newmont Goldcorp Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.
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