Envestnet Asset Management Inc. boosted its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 23.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 34,077 shares of the basic materials company’s stock after buying an additional 6,441 shares during the period. Envestnet Asset Management Inc.’s holdings in Newmont Goldcorp were worth $1,292,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Private Capital Group LLC lifted its holdings in Newmont Goldcorp by 10.3% during the 2nd quarter. Private Capital Group LLC now owns 3,061 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 287 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Newmont Goldcorp by 65.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock worth $29,000 after buying an additional 301 shares during the period. 6 Meridian grew its position in shares of Newmont Goldcorp by 2.0% during the 2nd quarter. 6 Meridian now owns 15,313 shares of the basic materials company’s stock worth $589,000 after buying an additional 302 shares during the period. Rational Advisors LLC grew its holdings in Newmont Goldcorp by 16.0% during the second quarter. Rational Advisors LLC now owns 2,222 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 306 shares during the period. Finally, Huntington National Bank grew its holdings in Newmont Goldcorp by 32.0% during the second quarter. Huntington National Bank now owns 1,294 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 314 shares during the period. 80.05% of the stock is owned by hedge funds and other institutional investors.
In other Newmont Goldcorp news, EVP E Randall Engel sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.65, for a total value of $135,275.00. Following the transaction, the executive vice president now directly owns 308,719 shares in the company, valued at $11,931,989.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Thomas Ronald Palmer sold 2,750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $40.01, for a total transaction of $110,027.50. Following the completion of the transaction, the president now owns 254,073 shares in the company, valued at $10,165,460.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,805 shares of company stock worth $1,811,632. Insiders own 0.44% of the company’s stock.
NEM has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of Newmont Goldcorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $45.00 to $50.00 in a report on Wednesday, September 11th. Warburg Research restated a “neutral” rating and set a $48.33 price objective on shares of Newmont Goldcorp in a report on Saturday, November 2nd. 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 for the company in a report on Monday, September 9th. TheStreet cut shares of Newmont Goldcorp from a “b-” rating to a “c+” rating in a report on Tuesday, October 1st. Finally, Barclays set a $45.00 price objective on shares of Newmont Goldcorp and gave the company a “buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Newmont Goldcorp has a consensus rating of “Hold” and a consensus target price of $46.13.
Shares of NEM opened at $37.65 on Thursday. 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 Corp has a twelve month low of $29.77 and a twelve month high of $41.23. The firm’s 50 day moving average price is $38.69 and its two-hundred day moving average price is $36.78. The firm has a market cap of $31.89 billion, a P/E ratio of 27.89 and a beta of -0.05.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the firm posted $0.33 EPS. The business’s quarterly revenue was up 57.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Goldcorp Corp will post 1.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, December 4th. Newmont Goldcorp’s payout ratio is currently 41.48%.
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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