Neville Rodie & Shaw Inc. lifted its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,343 shares of the basic materials company’s stock after buying an additional 300 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Newmont Goldcorp were worth $1,405,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of Newmont Goldcorp by 79.8% during the second quarter. LPL Financial LLC now owns 100,130 shares of the basic materials company’s stock valued at $3,852,000 after purchasing an additional 44,439 shares in the last quarter. First Allied Advisory Services Inc. lifted its stake in shares of Newmont Goldcorp by 8.8% in the second quarter. First Allied Advisory Services Inc. now owns 10,628 shares of the basic materials company’s stock worth $409,000 after acquiring an additional 861 shares during the period. Brown Advisory Inc. lifted its stake in Newmont Goldcorp by 17.5% in the second quarter. Brown Advisory Inc. now owns 22,303 shares of the basic materials company’s stock valued at $858,000 after buying an additional 3,317 shares during the period. Commonwealth Bank of Australia lifted its stake in Newmont Goldcorp by 25.7% in the second quarter. Commonwealth Bank of Australia now owns 66,274 shares of the basic materials company’s stock valued at $2,543,000 after buying an additional 13,562 shares during the period. Finally, Glen Harbor Capital Management LLC lifted its stake in Newmont Goldcorp by 109.9% in the second quarter. Glen Harbor Capital Management LLC now owns 136,510 shares of the basic materials company’s stock valued at $5,251,000 after buying an additional 71,468 shares during the period. 81.12% of the stock is owned by institutional investors.
Shares of NYSE NEM opened at $43.16 on Thursday. The stock’s 50-day simple moving average is $41.31 and its two-hundred day simple moving average is $39.27. The company has a quick ratio of 1.76, a current ratio of 2.18 and a debt-to-equity ratio of 0.30. Newmont Goldcorp Corp has a twelve month low of $29.77 and a twelve month high of $44.08. The firm has a market capitalization of $35.11 billion, a P/E ratio of 31.97 and a beta of -0.02.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.83 billion. Newmont Goldcorp had a return on equity of 4.71% and a net margin of 25.42%. Newmont Goldcorp’s revenue was up 57.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, research analysts anticipate that Newmont Goldcorp Corp will post 1.31 EPS for the current fiscal year.
Newmont Goldcorp announced that its Board of Directors has authorized a stock buyback program on Monday, December 2nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, December 4th. Newmont Goldcorp’s payout ratio is 41.48%.
In other news, EVP Stephen P. Gottesfeld sold 3,500 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $43.29, for a total value of $151,515.00. Following the transaction, the executive vice president now directly owns 173,404 shares in the company, valued at $7,506,659.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Kitlen sold 750 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $36.51, for a total value of $27,382.50. Following the completion of the sale, the chief accounting officer now owns 40,423 shares in the company, valued at $1,475,843.73. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $1,469,110 in the last quarter. 0.44% of the stock is owned by company insiders.
Several equities analysts have issued reports on NEM shares. National Bank Financial reissued an “outperform market weight” rating on shares of Newmont Goldcorp in a research note on Wednesday, October 23rd. ValuEngine raised Newmont Goldcorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Barclays set a $45.00 price objective on Newmont Goldcorp and gave the company a “buy” rating in a report on Tuesday, October 15th. TheStreet upgraded Newmont Goldcorp from a “c+” rating to a “b” rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets decreased their price target on Newmont Goldcorp from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.36.
Newmont Goldcorp 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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