Newmont Goldcorp (NYSE:NEM) has been assigned a $41.00 target price by stock analysts at Deutsche Bank in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm currently has a “hold” rating on the basic materials company’s stock. Deutsche Bank’s target price would indicate a potential upside of 4.01% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Desjardins reaffirmed a “buy” rating and issued a $43.00 price target on shares of Newmont Goldcorp in a research note on Thursday, April 4th. Royal Bank of Canada decreased their price target on Newmont Goldcorp to $39.00 and set an “underperform” rating on the stock in a research note on Monday, April 8th. Barclays set a $192.00 price target on Tesla and gave the stock a “sell” rating in a research note on Tuesday, April 9th. BMO Capital Markets set a $208.00 target price on Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Citigroup cut Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Newmont Goldcorp presently has an average rating of “Buy” and a consensus price target of $41.56.
Shares of Newmont Goldcorp stock opened at $39.42 on Thursday. The company has a quick ratio of 2.62, a current ratio of 2.97 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $36.08. The stock has a market cap of $32.31 billion, a PE ratio of 29.20 and a beta of 0.04. Newmont Goldcorp has a one year low of $29.06 and a one year high of $39.49.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. As a group, sell-side analysts forecast that Newmont Goldcorp will post 1.47 earnings per share for the current year.
In related news, EVP Nancy Lipson sold 5,055 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $39.00, for a total value of $197,145.00. Following the sale, the executive vice president now directly owns 27,825 shares of the company’s stock, valued at $1,085,175. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total value of $92,700.00. Following the completion of the sale, the executive vice president now directly owns 142,122 shares in the company, valued at $4,391,569.80. The disclosure for this sale can be found here. Insiders have sold 61,220 shares of company stock worth $2,141,220 over the last three months. Insiders own 0.44% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in shares of Newmont Goldcorp by 377.3% in the fourth quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 664 shares during the last quarter. Berman Capital Advisors LLC acquired a new stake in shares of Newmont Goldcorp in the fourth quarter valued at approximately $30,000. Natixis Advisors L.P. raised its holdings in shares of Newmont Goldcorp by 57.1% in the fourth quarter. Natixis Advisors L.P. now owns 113,921 shares of the basic materials company’s stock valued at $3,947,000 after purchasing an additional 41,416 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Newmont Goldcorp by 18.7% in the fourth quarter. Brown Advisory Inc. now owns 22,220 shares of the basic materials company’s stock valued at $771,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Newmont Goldcorp by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock valued at $284,738,000 after purchasing an additional 60,289 shares during the last quarter. 60.72% of the stock is currently owned by 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.
Further Reading: Is the QQQ ETF safe?
Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.