Insider Selling: Newmont Goldcorp Corp (NYSE:NEM) CEO Sells $318,115.50 in Stock

Newmont Goldcorp Corp (NYSE:NEM) CEO Thomas Ronald Palmer sold 5,150 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $61.77, for a total value of $318,115.50. Following the completion of the transaction, the chief executive officer now directly owns 273,447 shares of the company’s stock, valued at approximately $16,890,821.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Thomas Ronald Palmer also recently made the following trade(s):

  • On Monday, June 1st, Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock. The shares were sold at an average price of $58.81, for a total value of $235,240.00.
  • On Friday, May 1st, Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock. The shares were sold at an average price of $58.67, for a total value of $234,680.00.

Shares of NEM opened at $60.96 on Monday. Newmont Goldcorp Corp has a 12-month low of $33.00 and a 12-month high of $69.13. The business’s fifty day moving average is $59.55 and its 200 day moving average is $51.18. The company has a quick ratio of 2.81, a current ratio of 3.31 and a debt-to-equity ratio of 0.29. The stock has a market cap of $48.93 billion, a P/E ratio of 14.08 and a beta of 0.34.

Newmont Goldcorp (NYSE:NEM) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Newmont Goldcorp had a return on equity of 5.10% and a net margin of 33.66%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. Newmont Goldcorp’s revenue for the quarter was up 43.2% on a year-over-year basis. On average, analysts expect that Newmont Goldcorp Corp will post 2.38 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a $0.25 dividend. This is a positive change from Newmont Goldcorp’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, June 3rd. Newmont Goldcorp’s dividend payout ratio is presently 75.76%.

NEM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Newmont Goldcorp from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Deutsche Bank increased their target price on shares of Newmont Goldcorp from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Royal Bank of Canada reissued a “hold” rating and set a $48.00 target price on shares of Newmont Goldcorp in a research report on Thursday, April 30th. Barclays downgraded shares of Newmont Goldcorp from an “overweight” rating to an “equal weight” rating and set a $58.00 target price for the company. in a research report on Thursday, April 16th. Finally, Citigroup decreased their target price on shares of Newmont Goldcorp from $74.00 to $70.00 in a research report on Monday, June 29th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Newmont Goldcorp has a consensus rating of “Buy” and an average target price of $69.42.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. Norges Bank purchased a new stake in Newmont Goldcorp in the 4th quarter valued at $378,296,000. First Trust Advisors LP raised its position in Newmont Goldcorp by 24,317.1% in the 1st quarter. First Trust Advisors LP now owns 2,324,994 shares of the basic materials company’s stock valued at $105,276,000 after buying an additional 2,315,472 shares during the last quarter. Renaissance Technologies LLC raised its position in Newmont Goldcorp by 27.1% in the 4th quarter. Renaissance Technologies LLC now owns 9,234,499 shares of the basic materials company’s stock valued at $401,242,000 after buying an additional 1,966,320 shares during the last quarter. Van ECK Associates Corp raised its position in Newmont Goldcorp by 4.7% in the 4th quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock valued at $1,706,510,000 after buying an additional 1,764,699 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Newmont Goldcorp by 9.7% in the 1st quarter. Geode Capital Management LLC now owns 13,982,963 shares of the basic materials company’s stock valued at $632,066,000 after buying an additional 1,236,186 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

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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Insider Buying and Selling by Quarter for Newmont Goldcorp (NYSE:NEM)

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