Nissay Asset Management Corp Japan ADV lessened its holdings in Newmont Goldcorp Corp (NYSE:NEM) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,603 shares of the basic materials company’s stock after selling 6,162 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Newmont Goldcorp were worth $2,669,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan bought a new stake in Newmont Goldcorp in the 4th quarter valued at $1,157,000. Duality Advisers LP bought a new stake in Newmont Goldcorp in the 4th quarter valued at $3,130,000. Essex Investment Management Co. LLC increased its holdings in Newmont Goldcorp by 31.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 59,190 shares of the basic materials company’s stock valued at $2,051,000 after buying an additional 14,293 shares during the period. LPL Financial LLC increased its holdings in Newmont Goldcorp by 6.7% in the 4th quarter. LPL Financial LLC now owns 52,190 shares of the basic materials company’s stock valued at $1,808,000 after buying an additional 3,268 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in Newmont Goldcorp by 256.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 295,601 shares of the basic materials company’s stock valued at $8,960,000 after buying an additional 212,680 shares during the period. 87.57% of the stock is currently owned by hedge funds and other institutional investors.
NEM has been the topic of several analyst reports. Desjardins reissued a “buy” rating and issued a $43.00 price target on shares of Newmont Goldcorp in a report on Thursday, April 4th. Raymond James set a $47.00 price target on shares of Newmont Goldcorp and gave the company an “outperform” rating in a report on Tuesday, March 26th. Credit Suisse Group reissued a “buy” rating on shares of Newmont Goldcorp in a report on Wednesday, January 16th. TD Securities raised shares of Newmont Goldcorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $46.00 in a report on Monday, April 22nd. Finally, B. Riley reissued a “neutral” rating and issued a $38.40 price target on shares of Newmont Goldcorp in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $40.96.
NEM opened at $30.83 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 2.97. Newmont Goldcorp Corp has a twelve month low of $29.06 and a twelve month high of $40.03. The stock has a market capitalization of $25.33 billion, a PE ratio of 22.84 and a beta of -0.04.
Newmont Goldcorp (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Newmont Goldcorp had a net margin of 3.26% and a return on equity of 6.13%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Analysts expect that Newmont Goldcorp Corp will post 1.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, June 5th. Newmont Goldcorp’s payout ratio is 41.48%.
In related news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.90, for a total transaction of $42,375.00. Following the transaction, the chief operating officer now owns 277,823 shares in the company, valued at approximately $9,418,199.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary J. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total transaction of $123,600.00. Following the transaction, the chief executive officer now owns 129,680 shares in the company, valued at approximately $4,007,112. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,850 shares of company stock worth $1,544,937. 0.44% of the stock is owned by insiders.
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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