Insider Selling: Newmont Goldcorp Corp (NYSE:NEM) CEO Sells 4,000 Shares of Stock

Newmont Goldcorp Corp (NYSE:NEM) CEO Thomas Ronald Palmer sold 4,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $38.30, for a total transaction of $153,200.00. Following the completion of the sale, the chief executive officer now owns 242,073 shares of the company’s stock, valued at approximately $9,271,395.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Thomas Ronald Palmer also recently made the following trade(s):

  • On Friday, November 1st, Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock. The shares were sold at an average price of $39.68, for a total transaction of $158,720.00.
  • On Tuesday, October 1st, Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock. The shares were sold at an average price of $37.56, for a total transaction of $150,240.00.

Shares of NEM stock traded down $0.25 during trading hours on Wednesday, hitting $39.13. 6,203,836 shares of the company were exchanged, compared to its average volume of 9,196,010. The firm has a fifty day simple moving average of $38.26 and a 200 day simple moving average of $37.71. The company has a current ratio of 2.18, a quick ratio of 1.76 and a debt-to-equity ratio of 0.30. Newmont Goldcorp Corp has a 52-week low of $29.77 and a 52-week high of $41.23. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 28.99 and a beta of -0.06.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). Newmont Goldcorp had a return on equity of 4.71% and a net margin of 25.42%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 57.2% on a year-over-year basis. Sell-side analysts anticipate that Newmont Goldcorp Corp will post 1.32 EPS for the current year.

Newmont Goldcorp announced that its Board of Directors has initiated a stock buyback program on Monday, December 2nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.43%. Newmont Goldcorp’s payout ratio is currently 41.48%.

Hedge funds have recently modified their holdings of the company. Advantage Investment Management LLC grew its stake in Newmont Goldcorp by 556.0% in the 2nd quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 556 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Newmont Goldcorp in the 2nd quarter valued at approximately $25,000. Valley National Advisers Inc. grew its stake in Newmont Goldcorp by 1,212.0% in the 2nd quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 606 shares in the last quarter. Reilly Financial Advisors LLC purchased a new position in Newmont Goldcorp in the 3rd quarter valued at approximately $26,000. Finally, Parkside Financial Bank & Trust grew its stake in Newmont Goldcorp by 65.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock valued at $29,000 after buying an additional 301 shares in the last quarter. Institutional investors own 81.06% of the company’s stock.

Several equities research analysts have commented on NEM shares. Deutsche Bank increased their price objective on shares of Newmont Goldcorp from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays set a $45.00 price objective on shares of Newmont Goldcorp and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets decreased their price objective on shares of Newmont Goldcorp from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday. They noted that the move was a valuation call. TheStreet upgraded shares of Newmont Goldcorp from a “c+” rating to a “b” rating in a research note on Tuesday, November 5th. Finally, Citigroup increased their price objective on shares of Newmont Goldcorp from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.41.

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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Insider Buying and Selling by Quarter for Newmont Goldcorp (NYSE:NEM)

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