Sun Valley Gold LLC bought a new position in Newmont Goldcorp Corp (NYSE:NEM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 222,000 shares of the basic materials company’s stock, valued at approximately $8,540,000. Newmont Goldcorp comprises about 0.7% of Sun Valley Gold LLC’s investment portfolio, making the stock its 8th largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Gables Capital Management Inc. lifted its stake in shares of Newmont Goldcorp by 11.9% in the 2nd quarter. Gables Capital Management Inc. now owns 6,156 shares of the basic materials company’s stock worth $237,000 after acquiring an additional 656 shares during the period. Winslow Evans & Crocker Inc. lifted its stake in Newmont Goldcorp by 19.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock valued at $536,000 after purchasing an additional 2,296 shares during the last quarter. Norinchukin Bank The lifted its stake in Newmont Goldcorp by 14.3% during the second quarter. Norinchukin Bank The now owns 115,547 shares of the basic materials company’s stock valued at $4,445,000 after purchasing an additional 14,449 shares during the last quarter. Barnett & Company Inc. lifted its stake in Newmont Goldcorp by 42.8% during the second quarter. Barnett & Company Inc. now owns 1,642 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 492 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Newmont Goldcorp by 7.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 374,192 shares of the basic materials company’s stock valued at $14,396,000 after purchasing an additional 24,332 shares during the last quarter. Hedge funds and other institutional investors own 80.32% of the company’s stock.
In other news, VP John Kitlen sold 750 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.63, for a total transaction of $28,972.50. Following the transaction, the vice president now owns 43,423 shares in the company, valued at approximately $1,677,430.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.63, for a total transaction of $150,520.00. Following the transaction, the chief executive officer now owns 129,680 shares in the company, valued at approximately $4,879,858.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,415 shares of company stock worth $3,548,425. Company insiders own 0.44% of the company’s stock.
Several analysts recently commented on NEM shares. BMO Capital Markets raised shares of Newmont Goldcorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $45.00 to $50.00 in a research note on Wednesday, September 11th. Barclays reissued a “buy” rating and set a $44.00 target price on shares of Newmont Goldcorp in a research note on Sunday, August 4th. B. Riley increased their target price on shares of Newmont Goldcorp from $35.10 to $45.40 and gave the company a “neutral” rating in a research note on Monday, September 9th. TheStreet raised shares of Newmont Goldcorp from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Finally, Macquarie assumed coverage on shares of Newmont Goldcorp in a research report on Thursday. They issued a “neutral” rating for the company. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $43.56.
Shares of NYSE:NEM traded down $0.15 during mid-day trading on Monday, hitting $38.47. The stock had a trading volume of 382,361 shares, compared to its average volume of 6,911,496. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83. The company has a market cap of $31.70 billion, a PE ratio of 28.51 and a beta of -0.03. Newmont Goldcorp Corp has a 12-month low of $29.06 and a 12-month high of $41.23. The company’s 50 day moving average is $38.67 and its 200-day moving average is $35.74.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings data 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). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. On average, equities research analysts predict that Newmont Goldcorp Corp will post 1.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.56 annualized dividend and a yield of 1.46%. Newmont Goldcorp’s dividend payout ratio is presently 41.48%.
About Newmont Goldcorp
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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