SeaBridge Investment Advisors LLC Makes New Investment in Newmont Goldcorp Corp (NYSE:NEM)

SeaBridge Investment Advisors LLC bought a new position in shares of Newmont Goldcorp Corp (NYSE:NEM) during the third quarter, HoldingsChannel.com reports. The firm bought 1,000 shares of the basic materials company’s stock, valued at approximately $38,000.

Several other large investors have also made changes to their positions in NEM. First Trust Advisors LP boosted its position in shares of Newmont Goldcorp by 125.4% during the 1st quarter. First Trust Advisors LP now owns 216,351 shares of the basic materials company’s stock worth $7,739,000 after acquiring an additional 120,353 shares in the last quarter. Neville Rodie & Shaw Inc. raised its position in shares of Newmont Goldcorp by 1.3% during the second quarter. Neville Rodie & Shaw Inc. now owns 30,543 shares of the basic materials company’s stock valued at $1,175,000 after buying an additional 393 shares during the last quarter. DNB Asset Management AS raised its position in shares of Newmont Goldcorp by 50.3% during the second quarter. DNB Asset Management AS now owns 130,195 shares of the basic materials company’s stock valued at $5,009,000 after buying an additional 43,583 shares during the last quarter. Investors Research Corp raised its position in shares of Newmont Goldcorp by 398.0% during the second quarter. Investors Research Corp now owns 20,292 shares of the basic materials company’s stock valued at $781,000 after buying an additional 16,217 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Newmont Goldcorp by 28.2% during the second quarter. Crossmark Global Holdings Inc. now owns 43,194 shares of the basic materials company’s stock valued at $1,662,000 after buying an additional 9,497 shares during the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.

NYSE NEM traded up $0.65 during trading hours on Wednesday, reaching $38.45. The stock had a trading volume of 332,190 shares, compared to its average volume of 6,079,993. The stock has a fifty day moving average of $38.75 and a 200 day moving average of $36.56. The stock has a market cap of $31.12 billion, a P/E ratio of 28.48 and a beta of -0.10. Newmont Goldcorp Corp has a 52-week low of $29.06 and a 52-week high of $41.23. 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 issued its earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Newmont Goldcorp’s quarterly revenue was up 35.8% on a year-over-year basis. On average, equities research analysts forecast that Newmont Goldcorp Corp will post 1.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.46%. Newmont Goldcorp’s dividend payout ratio is presently 41.48%.

In other Newmont Goldcorp news, President Thomas Ronald Palmer sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $35.89, for a total value of $574,240.00. Following the sale, the president now owns 256,823 shares in the company, valued at approximately $9,217,377.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary J. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $35.93, for a total value of $143,720.00. Following the completion of the sale, the chief executive officer now owns 129,680 shares in the company, valued at approximately $4,659,402.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,555 shares of company stock worth $2,620,824. Insiders own 0.44% of the company’s stock.

Several equities research analysts have recently issued reports on NEM shares. Royal Bank of Canada upgraded shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock in a research report on Monday, September 9th. BMO Capital Markets upgraded Newmont Goldcorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $45.00 to $50.00 in a research report on Wednesday, September 11th. TD Securities dropped their target price on 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. Macquarie began coverage on Newmont Goldcorp in a research report on Thursday, September 12th. They issued a “neutral” rating on the stock. Finally, Deutsche Bank reiterated a “buy” rating and issued a $63.30 target price on shares of Newmont Goldcorp in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight 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 an average target price of $45.66.

Newmont Goldcorp Company 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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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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