Raymond James Analysts Lower Earnings Estimates for Newmont Goldcorp Corp (NYSE:NEM)

Newmont Goldcorp Corp (NYSE:NEM) – Equities researchers at Raymond James dropped their Q2 2019 earnings per share estimates for shares of Newmont Goldcorp in a research report issued to clients and investors on Monday, July 15th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.22 for the quarter, down from their previous estimate of $0.24. Raymond James currently has a “Outperform” rating and a $47.00 target price on the stock. Raymond James also issued estimates for Newmont Goldcorp’s Q4 2019 earnings at $0.46 EPS.

NEM has been the subject of a number of other reports. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. TheStreet downgraded Primeenergy Resources from a “b-” rating to a “c” rating in a report on Friday, July 5th. Deutsche Bank set a $81.00 price target on Franco Nevada and gave the stock a “hold” rating in a report on Thursday, July 11th. BMO Capital Markets set a $208.00 price target on Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, TD Securities decreased their price target on Northern Dynasty Minerals from C$1.30 to C$0.90 and set a “hold” rating for the company in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned 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 target price of $41.56.

Shares of Newmont Goldcorp stock opened at $39.70 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 2.97. The stock’s 50-day simple moving average is $36.97. Newmont Goldcorp has a 1-year low of $29.06 and a 1-year high of $39.98. The firm has a market cap of $32.35 billion, a P/E ratio of 29.41 and a beta of 0.04.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the business posted $0.35 EPS. The business’s revenue was down .8% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its position in shares of Newmont Goldcorp by 59.7% during the 2nd quarter. Moors & Cabot Inc. now owns 18,049 shares of the basic materials company’s stock worth $697,000 after buying an additional 6,747 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Newmont Goldcorp by 40.4% in the 2nd quarter. New York State Teachers Retirement System now owns 1,028,041 shares of the basic materials company’s stock worth $39,549,000 after purchasing an additional 295,720 shares during the period. Oakbrook Investments LLC raised its holdings in shares of Newmont Goldcorp by 50.4% in the 2nd quarter. Oakbrook Investments LLC now owns 40,397 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 13,530 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Newmont Goldcorp by 37.0% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 211,685 shares of the basic materials company’s stock worth $8,144,000 after purchasing an additional 57,120 shares during the period. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Newmont Goldcorp by 15.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 91,469 shares of the basic materials company’s stock worth $3,519,000 after purchasing an additional 11,930 shares during the period. Institutional investors and hedge funds own 60.73% of the company’s stock.

In other news, EVP Elaine J. Dorward-King sold 3,000 shares of the firm’s stock in a transaction dated 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 approximately $4,391,569.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Goldcorp stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $30.90, for a total value of $38,625.00. Following the transaction, the chief operating officer now owns 275,323 shares of the company’s stock, valued at approximately $8,507,480.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,220 shares of company stock valued at $2,141,220. 0.44% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.14 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 1.41%. Newmont Goldcorp’s dividend payout ratio is presently 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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Earnings History and Estimates for Newmont Goldcorp (NYSE:NEM)

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