Wedbush Securities Inc. boosted its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 128.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,069 shares of the basic materials company’s stock after buying an additional 28,141 shares during the quarter. Wedbush Securities Inc.’s holdings in Newmont Goldcorp were worth $1,926,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Gables Capital Management Inc. lifted its stake in shares of Newmont Goldcorp by 11.9% in the 2nd quarter. Gables Capital Management Inc. now owns 6,156 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 656 shares during the period. Wealthstreet Investment Advisors LLC acquired a new position in shares of Newmont Goldcorp in the 1st quarter valued at $574,000. Winslow Evans & Crocker Inc. lifted its stake in shares of Newmont Goldcorp by 19.8% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock valued at $536,000 after purchasing an additional 2,296 shares during the period. AE Wealth Management LLC acquired a new position in shares of Newmont Goldcorp in the 2nd quarter valued at $1,508,000. Finally, GAM Holding AG lifted its stake in shares of Newmont Goldcorp by 40.7% in the 1st quarter. GAM Holding AG now owns 304,735 shares of the basic materials company’s stock valued at $10,900,000 after purchasing an additional 88,226 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
NEM has been the topic of a number of analyst reports. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Raymond James restated an “outperform” rating and issued a $47.00 price objective on shares of Newmont Goldcorp in a research report on Friday, April 26th. Barclays restated a “buy” rating and issued a $44.00 price objective on shares of Newmont Goldcorp in a research report on Sunday, August 4th. Citigroup upgraded shares of Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Thursday, May 23rd. Finally, Zacks Investment Research cut shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. One equities 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 issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.76.
NEM stock traded down $1.01 during trading hours on Tuesday, reaching $37.45. 1,020,150 shares of the stock were exchanged, compared to its average volume of 8,418,358. The firm’s 50-day simple moving average is $38.43. The company has a market cap of $32.00 billion, a P/E ratio of 27.70 and a beta of 0.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83. Newmont Goldcorp Corp has a 12 month low of $29.06 and a 12 month high of $40.33.
Newmont Goldcorp (NYSE:NEM) last released its earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. Newmont Goldcorp’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. Equities analysts expect that Newmont Goldcorp Corp will post 1.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.
In other Newmont Goldcorp news, EVP Scott P. Lawson sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $37.91, for a total transaction of $113,730.00. Following the completion of the transaction, the executive vice president now owns 124,545 shares in the company, valued at approximately $4,721,500.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen P. Gottesfeld sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the transaction, the executive vice president now owns 194,404 shares of the company’s stock, valued at approximately $7,776,160. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,720 shares of company stock valued at $3,254,208. Corporate insiders own 0.44% of the company’s stock.
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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