Gamble Jones Investment Counsel acquired a new position in Newmont Goldcorp Corp (NYSE:NEM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,586 shares of the basic materials company’s stock, valued at approximately $136,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Newmont Goldcorp by 52.2% in the second quarter. Vanguard Group Inc. now owns 89,715,566 shares of the basic materials company’s stock worth $3,451,358,000 after purchasing an additional 30,786,889 shares during the last quarter. BlackRock Inc. boosted its position in Newmont Goldcorp by 27.8% in the second quarter. BlackRock Inc. now owns 109,649,438 shares of the basic materials company’s stock worth $4,218,213,000 after purchasing an additional 23,820,369 shares during the last quarter. Van ECK Associates Corp boosted its position in Newmont Goldcorp by 33.0% in the second quarter. Van ECK Associates Corp now owns 37,040,057 shares of the basic materials company’s stock worth $1,424,931,000 after purchasing an additional 9,198,168 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Newmont Goldcorp by 63,100.2% in the second quarter. Nuveen Asset Management LLC now owns 8,032,118 shares of the basic materials company’s stock worth $308,996,000 after purchasing an additional 8,019,409 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Newmont Goldcorp by 32.7% in the second quarter. Bank of New York Mellon Corp now owns 13,512,764 shares of the basic materials company’s stock worth $519,836,000 after purchasing an additional 3,328,151 shares during the last quarter. Institutional investors own 80.05% of the company’s stock.
In other news, President Thomas Ronald Palmer sold 2,750 shares of Newmont Goldcorp stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $40.01, for a total transaction of $110,027.50. Following the transaction, the president now directly owns 254,073 shares of the company’s stock, valued at approximately $10,165,460.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Nancy Buese sold 7,500 shares of Newmont Goldcorp stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $40.96, for a total value of $307,200.00. Following the transaction, the chief financial officer now directly owns 44,944 shares in the company, valued at $1,840,906.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,805 shares of company stock worth $1,811,632. Insiders own 0.44% of the company’s stock.
Shares of NEM stock traded down $0.32 during trading hours on Friday, reaching $36.61. 8,408,080 shares of the company traded hands, compared to its average volume of 9,493,327. Newmont Goldcorp Corp has a 12-month low of $29.77 and a 12-month high of $41.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.38. The company has a market cap of $30.79 billion, a P/E ratio of 27.12 and a beta of -0.05. The firm has a 50-day moving average price of $38.57 and a 200 day moving average price of $36.82.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). Newmont Goldcorp had a net margin of 25.42% and a return on equity of 4.71%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 57.2% on a year-over-year basis. Sell-side analysts predict that Newmont Goldcorp Corp will post 1.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.53%. Newmont Goldcorp’s payout ratio is currently 41.48%.
Several brokerages have issued reports on NEM. National Bank Financial reissued an “outperform market weight” rating on shares of Newmont Goldcorp in a research report on Wednesday, October 23rd. ValuEngine raised Newmont Goldcorp from a “strong sell” rating to a “sell” rating in a research report on Friday, October 11th. Warburg Research reissued a “neutral” rating and issued a $48.33 target price on shares of Newmont Goldcorp in a research report on Saturday, November 2nd. B. Riley dropped their target price on Newmont Goldcorp from $43.90 to $41.30 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, Berenberg Bank reissued a “neutral” rating and issued a $50.00 target price on shares of Newmont Goldcorp in a research report on Saturday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.96.
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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