Advisor Partners LLC increased its stake in Newmont Goldcorp Corp (NYSE:NEM) by 20.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,133 shares of the basic materials company’s stock after purchasing an additional 3,790 shares during the quarter. Advisor Partners LLC’s holdings in Newmont Goldcorp were worth $839,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Reitz Capital Advisors LLC grew its holdings in shares of Newmont Goldcorp by 6.8% during the third quarter. Reitz Capital Advisors LLC now owns 13,745 shares of the basic materials company’s stock worth $521,000 after buying an additional 870 shares in the last quarter. Gables Capital Management Inc. boosted its position in shares of Newmont Goldcorp by 11.9% in the second quarter. Gables Capital Management Inc. now owns 6,156 shares of the basic materials company’s stock worth $237,000 after acquiring an additional 656 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its position in shares of Newmont Goldcorp by 19.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock worth $536,000 after acquiring an additional 2,296 shares during the last quarter. Norinchukin Bank The boosted its position in shares of Newmont Goldcorp by 14.3% in the second quarter. Norinchukin Bank The now owns 115,547 shares of the basic materials company’s stock worth $4,445,000 after acquiring an additional 14,449 shares during the last quarter. Finally, Barnett & Company Inc. boosted its position in shares of Newmont Goldcorp by 42.8% in the second quarter. Barnett & Company Inc. now owns 1,642 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 492 shares during the last quarter. Institutional investors and hedge funds own 80.05% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Macquarie assumed coverage on shares of Newmont Goldcorp in a research report on Thursday, September 12th. They issued a “neutral” rating on the stock. Barclays set a $45.00 price target on shares of Newmont Goldcorp and gave the company a “buy” rating in a research report on Tuesday, October 15th. Raymond James set a $51.00 price target on shares of Newmont Goldcorp and gave the company an “outperform” rating in a research report on Wednesday. Citigroup lifted their price target on shares of Newmont Goldcorp from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, TheStreet raised shares of Newmont Goldcorp from a “c+” rating to a “b” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Newmont Goldcorp presently has a consensus rating of “Hold” and an average price target of $45.96.
In other Newmont Goldcorp news, EVP Dean Gehring sold 3,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $39.32, for a total transaction of $137,620.00. Following the sale, the executive vice president now owns 24,810 shares in the company, valued at approximately $975,529.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Thomas Ronald Palmer sold 2,750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $40.01, for a total value of $110,027.50. Following the sale, the president now owns 254,073 shares in the company, valued at approximately $10,165,460.73. The disclosure for this sale can be found here. Insiders sold a total of 45,805 shares of company stock valued at $1,811,632 over the last three months. 0.44% of the stock is owned by corporate insiders.
Shares of NEM traded down $0.32 during midday trading on Friday, hitting $36.61. 8,408,080 shares of the stock traded hands, compared to its average volume of 9,493,327. The firm has a market capitalization of $30.79 billion, a PE ratio of 27.12 and a beta of -0.05. The business’s 50 day moving average price is $38.57 and its two-hundred day moving average price is $36.82. Newmont Goldcorp Corp has a 1-year low of $29.77 and a 1-year high of $41.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 2.18.
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 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 during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Goldcorp Corp will post 1.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Newmont Goldcorp’s payout ratio is 41.48%.
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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