Newmont Goldcorp Corp (NYSE:NEM) – Analysts at Raymond James upped their FY2020 earnings per share (EPS) estimates for shares of Newmont Goldcorp in a research note issued on Friday, October 18th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $2.33 per share for the year, up from their prior forecast of $2.32. Raymond James has a “Outperform” rating and a $47.00 price objective on the stock.
NEM has been the topic of a number of other reports. TD Securities lowered their price target on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating on the stock in a research report on Monday, August 19th. TheStreet lowered shares of Newmont Goldcorp from a “b-” rating to a “c+” rating in a research report on Tuesday, October 1st. ValuEngine raised shares of Newmont Goldcorp from a “strong sell” rating to a “sell” rating in a research report on Friday, October 11th. Barclays set a $45.00 price target on shares of Newmont Goldcorp and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Macquarie assumed coverage on shares of Newmont Goldcorp in a report on Thursday, September 12th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $43.89.
NYSE:NEM opened at $38.44 on Monday. Newmont Goldcorp has a 52 week low of $29.06 and a 52 week high of $41.23. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 28.47 and a beta of -0.10. The firm’s 50-day simple moving average is $38.89 and its 200 day simple moving average is $36.51. 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 (NYSE:NEM) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the business posted $0.26 earnings per share. Newmont Goldcorp’s revenue was up 35.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.
In other news, CFO Nancy Buese sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $40.96, for a total value of $307,200.00. Following the sale, the chief financial officer now directly owns 44,944 shares in the company, valued at approximately $1,840,906.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Thomas Ronald Palmer sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $35.89, for a total transaction of $574,240.00. Following the completion of the sale, the president now owns 256,823 shares in the company, valued at $9,217,377.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,555 shares of company stock worth $3,020,824. Insiders own 0.44% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NEM. First Trust Advisors LP lifted its stake in shares of Newmont Goldcorp by 125.4% in the 1st quarter. First Trust Advisors LP now owns 216,351 shares of the basic materials company’s stock valued at $7,739,000 after purchasing an additional 120,353 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Newmont Goldcorp by 350.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 968 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 753 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its stake in shares of Newmont Goldcorp by 1.3% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 30,543 shares of the basic materials company’s stock valued at $1,175,000 after purchasing an additional 393 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Newmont Goldcorp by 50.3% in the 2nd quarter. DNB Asset Management AS now owns 130,195 shares of the basic materials company’s stock valued at $5,009,000 after purchasing an additional 43,583 shares during the last quarter. Finally, Investors Research Corp lifted its stake in shares of Newmont Goldcorp by 398.0% in the 2nd quarter. Investors Research Corp now owns 20,292 shares of the basic materials company’s stock valued at $781,000 after purchasing an additional 16,217 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.
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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