Credit Suisse Group reaffirmed their buy rating on shares of Newmont Goldcorp (NYSE:NEM) in a research note issued to investors on Wednesday, AnalystRatings.com reports. The firm currently has a $72.00 target price on the basic materials company’s stock.
A number of other equities analysts also recently commented on the company. Citigroup cut their price objective on Newmont Goldcorp from $74.00 to $70.00 in a report on Monday, June 29th. Standpoint Research downgraded Newmont Goldcorp from a buy rating to a hold rating in a report on Monday, May 18th. Raymond James raised their price objective on Newmont Goldcorp from $73.00 to $78.00 and gave the stock an outperform rating in a report on Wednesday, July 15th. B. Riley increased their target price on Newmont Goldcorp from $96.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, May 19th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $57.00 target price on shares of Newmont Goldcorp in a research note on Tuesday, July 28th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Newmont Goldcorp has a consensus rating of Buy and a consensus target price of $71.08.
NYSE NEM opened at $69.20 on Wednesday. The business’s 50-day moving average price is $61.12 and its 200 day moving average price is $54.20. Newmont Goldcorp has a twelve month low of $33.00 and a twelve month high of $70.30. The company has a market capitalization of $55.54 billion, a PE ratio of 14.45 and a beta of 0.34. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.26.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Newmont Goldcorp had a return on equity of 5.70% and a net margin of 36.79%. Equities analysts predict that Newmont Goldcorp will post 2.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.45%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 75.76%.
In other news, EVP E Randall Engel sold 3,500 shares of Newmont Goldcorp stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $63.34, for a total value of $221,690.00. Following the completion of the transaction, the executive vice president now owns 304,341 shares in the company, valued at approximately $19,276,958.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dean Gehring sold 1,528 shares of Newmont Goldcorp stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $68.78, for a total value of $105,095.84. Following the completion of the transaction, the executive vice president now owns 19,862 shares of the company’s stock, valued at approximately $1,366,108.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,745 shares of company stock valued at $8,155,009. 0.28% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Harwood Advisory Group LLC acquired a new position in shares of Newmont Goldcorp in the 1st quarter worth approximately $25,000. Tarbox Family Office Inc. grew its position in shares of Newmont Goldcorp by 73.8% in the 1st quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 242 shares in the last quarter. Lenox Wealth Management Inc. grew its position in shares of Newmont Goldcorp by 608.2% in the 1st quarter. Lenox Wealth Management Inc. now owns 602 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 517 shares in the last quarter. Trust Co. of Vermont grew its position in shares of Newmont Goldcorp by 211.0% in the 2nd quarter. Trust Co. of Vermont now owns 737 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 500 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Newmont Goldcorp by 3,200.0% in the 1st quarter. Allworth Financial LP now owns 825 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 81.29% 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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