ETRADE Capital Management LLC lifted its stake in Newmont Goldcorp Corp (NYSE:NEM) by 26.1% during the 1st quarter, HoldingsChannel reports. The fund owned 18,933 shares of the basic materials company’s stock after buying an additional 3,923 shares during the period. ETRADE Capital Management LLC’s holdings in Newmont Goldcorp were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in NEM. Van ECK Associates Corp lifted its position in Newmont Goldcorp by 4.7% in the fourth quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock worth $1,706,510,000 after purchasing an additional 1,764,699 shares during the period. State Street Corp lifted its position in Newmont Goldcorp by 0.3% in the fourth quarter. State Street Corp now owns 38,193,895 shares of the basic materials company’s stock worth $1,659,525,000 after purchasing an additional 107,927 shares during the period. FMR LLC lifted its position in Newmont Goldcorp by 43.2% in the fourth quarter. FMR LLC now owns 16,488,081 shares of the basic materials company’s stock worth $716,407,000 after purchasing an additional 4,973,929 shares during the period. Renaissance Technologies LLC lifted its position in Newmont Goldcorp by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 9,234,499 shares of the basic materials company’s stock worth $401,242,000 after purchasing an additional 1,966,320 shares during the period. Finally, Norges Bank bought a new position in Newmont Goldcorp in the fourth quarter worth $378,296,000. Institutional investors and hedge funds own 81.48% of the company’s stock.
Newmont Goldcorp stock opened at $63.05 on Friday. The stock has a 50-day simple moving average of $59.99 and a 200 day simple moving average of $47.06. The company has a quick ratio of 2.81, a current ratio of 3.31 and a debt-to-equity ratio of 0.29. Newmont Goldcorp Corp has a 12-month low of $31.10 and a 12-month high of $69.13. The stock has a market capitalization of $50.95 billion, a price-to-earnings ratio of 14.56 and a beta of 0.40.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Goldcorp Corp will post 2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Newmont Goldcorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, June 3rd. Newmont Goldcorp’s payout ratio is currently 42.42%.
Several research analysts recently commented on the company. CIBC raised Newmont Goldcorp from a “neutral” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Sunday, February 23rd. Deutsche Bank raised their target price on Newmont Goldcorp from $54.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Citigroup raised their target price on Newmont Goldcorp from $46.00 to $70.00 in a research report on Wednesday, May 6th. Bank of America reissued a “buy” rating and set a $82.00 price objective (up from $73.00) on shares of Newmont Goldcorp in a report on Wednesday, May 6th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $48.00 price objective on shares of Newmont Goldcorp in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $69.08.
In related news, CEO Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $45.04, for a total value of $180,160.00. Following the completion of the sale, the chief executive officer now directly owns 286,597 shares in the company, valued at $12,908,328.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP E Randall Engel sold 3,500 shares of Newmont Goldcorp stock in a transaction dated 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 sale, the executive vice president now owns 304,341 shares of the company’s stock, valued at $19,276,958.94. The disclosure for this sale can be found here. Insiders sold 108,383 shares of company stock valued at $6,492,212 over the last ninety days. 0.28% of the stock is currently owned by company insiders.
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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