Gamble Jones Investment Counsel acquired a new position in Newmont Goldcorp Corp (NYSE:NEM) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,586 shares of the basic materials company’s stock, valued at approximately $136,000.
Several other hedge funds also recently bought and sold shares of NEM. Advantage Investment Management LLC grew its position in Newmont Goldcorp by 556.0% during the second quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 556 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new position in Newmont Goldcorp during the second quarter valued at approximately $25,000. Valley National Advisers Inc. grew its position in Newmont Goldcorp by 1,212.0% during the second quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 606 shares during the last quarter. Reilly Financial Advisors LLC bought a new position in Newmont Goldcorp during the third quarter valued at approximately $26,000. Finally, Edge Wealth Management LLC bought a new position in Newmont Goldcorp during the second quarter valued at approximately $27,000. Institutional investors own 80.05% of the company’s stock.
In other news, CFO Nancy Buese sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $40.96, for a total transaction of $307,200.00. Following the completion of the sale, the chief financial officer now owns 44,944 shares of the company’s stock, valued at $1,840,906.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nancy Lipson sold 5,055 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.35, for a total value of $203,969.25. Following the completion of the sale, the executive vice president now directly owns 22,770 shares of the company’s stock, valued at approximately $918,769.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,805 shares of company stock valued at $1,811,632. Insiders own 0.44% of the company’s stock.
A number of research analysts have commented on the stock. TheStreet upgraded shares of Newmont Goldcorp from a “c+” rating to a “b” rating in a research report on Tuesday, November 5th. Macquarie assumed coverage on shares of Newmont Goldcorp in a research report on Thursday, September 12th. They set a “neutral” rating on the stock. Kepler Capital Markets reiterated a “sell” rating and set a $43.00 price target on shares of Newmont Goldcorp in a research report on Thursday, October 31st. Royal Bank of Canada upgraded shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 price target on the stock in a research report on Monday, September 9th. Finally, TD Securities reduced their price target on shares of 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Newmont Goldcorp has a consensus rating of “Hold” and an average price target of $45.96.
Shares of NYSE:NEM traded down $0.32 during trading on Friday, reaching $36.61. 8,408,080 shares of the company traded hands, compared to its average volume of 9,493,327. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 27.12 and a beta of -0.05. Newmont Goldcorp Corp has a 52-week low of $29.77 and a 52-week high of $41.23. The company has a current ratio of 2.18, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $38.57 and its 200-day moving average is $36.82.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Newmont Goldcorp had a net margin of 25.42% and a return on equity of 4.71%. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. On average, sell-side analysts predict that Newmont Goldcorp Corp will post 1.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Wednesday, December 4th. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 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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