Newmont Goldcorp Corp (NYSE:NEM) EVP Stephen P. Gottesfeld sold 3,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $38.48, for a total transaction of $134,680.00. Following the sale, the executive vice president now directly owns 187,404 shares in the company, valued at approximately $7,211,305.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NEM traded down $0.04 during midday trading on Friday, hitting $38.62. The stock had a trading volume of 9,773,614 shares, compared to its average volume of 10,187,721. Newmont Goldcorp Corp has a 1 year low of $29.06 and a 1 year high of $41.23. The firm has a market cap of $31.29 billion, a PE ratio of 28.61 and a beta of -0.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 1.38. The stock’s 50 day moving average is $38.69 and its 200 day moving average is $35.73.
Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was up 35.8% compared to the same quarter last year. As a group, equities research analysts expect that Newmont Goldcorp Corp will post 1.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio is presently 41.48%.
NEM has been the topic of a number of recent research reports. BMO Capital Markets raised shares of Newmont Goldcorp from a “market perform” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a research note on Wednesday. B. Riley upped their price target on shares of Newmont Goldcorp from $35.10 to $45.40 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank set a $41.00 price target on shares of Newmont Goldcorp and gave the company a “hold” rating in a research note on Thursday, July 11th. Barclays reaffirmed a “buy” rating and set a $44.00 price target on shares of Newmont Goldcorp in a research note on Sunday, August 4th. Finally, TD Securities decreased their price target on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating on the stock in a research note on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $43.56.
A number of hedge funds have recently bought and sold shares of NEM. Geode Capital Management LLC increased its stake in Newmont Goldcorp by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock worth $284,738,000 after buying an additional 60,289 shares during the period. Janney Montgomery Scott LLC increased its stake in Newmont Goldcorp by 28.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,895 shares of the basic materials company’s stock worth $533,000 after buying an additional 3,291 shares during the period. Comerica Bank increased its stake in Newmont Goldcorp by 0.6% in the 1st quarter. Comerica Bank now owns 102,969 shares of the basic materials company’s stock worth $3,735,000 after buying an additional 652 shares during the period. Boston Partners increased its stake in Newmont Goldcorp by 5.3% in the 1st quarter. Boston Partners now owns 59,812 shares of the basic materials company’s stock worth $2,139,000 after buying an additional 2,996 shares during the period. Finally, Stephens Inc. AR purchased a new position in Newmont Goldcorp in the 1st quarter worth about $206,000. 80.40% of the stock is currently owned by institutional investors.
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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