Newmont Goldcorp Corp (NYSE:NEM) – Stock analysts at Raymond James boosted their FY2020 EPS estimates for shares of Newmont Goldcorp in a report released on Friday, October 18th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $2.33 per share for the year, up from their previous estimate of $2.32. Raymond James currently has a “Outperform” rating and a $47.00 target price on the stock.
Other equities analysts also recently issued research reports about the company. Deutsche Bank upgraded Newmont Goldcorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Macquarie assumed coverage on Newmont Goldcorp in a research report on Thursday, September 12th. They set a “neutral” rating on the stock. TD Securities lowered their price target on Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada upgraded Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 price target on the stock in a research report on Monday, September 9th. Finally, Barclays set a $45.00 target price on Newmont Goldcorp and gave the company a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $43.89.
Shares of NEM stock opened at $38.44 on Monday. The company has a market capitalization of $31.41 billion, a P/E ratio of 28.47 and a beta of -0.10. The business’s 50 day moving average is $38.89 and its two-hundred day moving average is $36.51. The company has a current ratio of 1.83, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. Newmont Goldcorp has a 12-month low of $29.06 and a 12-month high of $41.23.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The business’s revenue for the quarter 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.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a $0.14 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.46%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.
In related news, CFO Nancy Buese sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $40.96, for a total value of $307,200.00. Following the completion of the sale, the chief financial officer now owns 44,944 shares of the company’s stock, valued at $1,840,906.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John Kitlen sold 750 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $37.91, for a total value of $28,432.50. Following the completion of the sale, the vice president now directly owns 42,673 shares of the company’s stock, valued at approximately $1,617,733.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,555 shares of company stock worth $3,020,824. Company insiders own 0.44% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Private Capital Group LLC increased its holdings in shares of Newmont Goldcorp by 10.3% in the second quarter. Private Capital Group LLC now owns 3,061 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 287 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Newmont Goldcorp by 65.6% during the second quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 301 shares during the last quarter. 6 Meridian increased its stake in Newmont Goldcorp by 2.0% during the second quarter. 6 Meridian now owns 15,313 shares of the basic materials company’s stock worth $589,000 after acquiring an additional 302 shares during the last quarter. Rational Advisors LLC increased its stake in Newmont Goldcorp by 16.0% during the second quarter. Rational Advisors LLC now owns 2,222 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 306 shares during the last quarter. Finally, Huntington National Bank increased its stake in Newmont Goldcorp by 32.0% during the second quarter. Huntington National Bank now owns 1,294 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 314 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.
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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