Newmont Goldcorp (NYSE:NEM) Price Target Raised to $45.40

Newmont Goldcorp (NYSE:NEM) had its price target hoisted by B. Riley from $35.10 to $45.40 in a report issued on Monday, BenzingaRatingsTable reports. They currently have a neutral rating on the basic materials company’s stock.

NEM has been the subject of several other research reports. Deutsche Bank set a $41.00 price target on Newmont Goldcorp and gave the company a hold rating in a report on Thursday, July 11th. TheStreet upgraded Newmont Goldcorp from a c+ rating to a b- rating in a report on Friday, July 5th. TD Securities lowered their price target on Newmont Goldcorp from $52.00 to $50.00 and set an action list buy rating for the company in a report on Monday, August 19th. BMO Capital Markets started coverage on Newmont Goldcorp in a report on Wednesday, July 3rd. They issued a market perform rating and a $45.00 price target for the company. Finally, Zacks Investment Research cut Newmont Goldcorp from a buy rating to a hold rating in a report on Tuesday, May 14th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $43.56.

NEM traded up $0.31 during midday trading on Monday, hitting $39.03. The company’s stock had a trading volume of 4,107,000 shares, compared to its average volume of 10,197,916. The company has a current ratio of 1.83, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The firm has a market cap of $31.21 billion, a P/E ratio of 28.91 and a beta of -0.03. The firm has a 50-day moving average price of $38.69 and a two-hundred day moving average price of $35.73. Newmont Goldcorp has a 52-week low of $29.06 and a 52-week high of $41.23.

Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, equities analysts expect that Newmont Goldcorp will post 1.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 1.43%. The ex-dividend date is Wednesday, September 11th. Newmont Goldcorp’s payout ratio is currently 41.48%.

In other news, EVP Nancy Lipson sold 5,055 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $36.00, for a total transaction of $181,980.00. Following the completion of the sale, the executive vice president now owns 37,935 shares in the company, valued at approximately $1,365,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William N. Macgowan sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.63, for a total value of $112,890.00. Following the sale, the executive vice president now owns 206,351 shares of the company’s stock, valued at approximately $7,764,988.13. The disclosure for this sale can be found here. Insiders have sold a total of 93,970 shares of company stock valued at $3,595,725 in the last quarter. Company insiders own 0.44% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NEM. Advantage Investment Management LLC lifted its position in Newmont Goldcorp by 556.0% during the 2nd quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 556 shares in the last quarter. Sterling Investment Advisors Ltd. acquired a new position in shares of Newmont Goldcorp in the 2nd quarter valued at approximately $25,000. Valley National Advisers Inc. raised its position in shares of Newmont Goldcorp by 1,212.0% in the 2nd quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 606 shares in the last quarter. Edge Wealth Management LLC acquired a new position in shares of Newmont Goldcorp in the 2nd quarter valued at approximately $27,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Newmont Goldcorp by 65.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 301 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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