Capital International Sarl Lowers Stock Position in Newmont Goldcorp Corp (NYSE:NEM)

Capital International Sarl reduced its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 48.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,040 shares of the basic materials company’s stock after selling 64,255 shares during the period. Capital International Sarl’s holdings in Newmont Goldcorp were worth $3,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Alpha Windward LLC bought a new position in Newmont Goldcorp during the fourth quarter valued at approximately $35,000. Acima Private Wealth LLC bought a new position in Newmont Goldcorp during the fourth quarter valued at approximately $35,000. Citizens Financial Group Inc RI grew its position in Newmont Goldcorp by 264.1% during the fourth quarter. Citizens Financial Group Inc RI now owns 812 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 589 shares during the last quarter. Capital Wealth Alliance LLC bought a new position in Newmont Goldcorp during the fourth quarter valued at approximately $45,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Newmont Goldcorp by 94.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,165 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 565 shares during the last quarter. Institutional investors and hedge funds own 82.66% of the company’s stock.

NYSE:NEM traded up $0.14 during trading hours on Thursday, hitting $47.68. The company had a trading volume of 5,028,543 shares, compared to its average volume of 13,253,502. The company has a market capitalization of $38.37 billion, a PE ratio of 13.74 and a beta of 0.15. The stock has a 50-day moving average price of $45.55 and a 200 day moving average price of $41.50. Newmont Goldcorp Corp has a 52 week low of $29.77 and a 52 week high of $52.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 2.20.

Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Newmont Goldcorp had a return on equity of 5.07% and a net margin of 28.80%. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. Analysts anticipate that Newmont Goldcorp Corp will post 2.27 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, March 4th. Newmont Goldcorp’s dividend payout ratio is currently 42.42%.

Newmont Goldcorp declared that its board has initiated a stock repurchase program on Monday, December 2nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several research analysts have recently issued reports on the stock. Raymond James cut their target price on shares of Newmont Goldcorp from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday. Royal Bank of Canada restated a “hold” rating and issued a $48.00 target price on shares of Newmont Goldcorp in a report on Wednesday. ValuEngine upgraded shares of Newmont Goldcorp from a “sell” rating to a “hold” rating in a report on Friday, February 21st. CIBC upgraded shares of Newmont Goldcorp from a “neutral” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Sunday, February 23rd. Finally, UBS Group assumed coverage on shares of Newmont Goldcorp in a report on Thursday, February 6th. They issued a “neutral” rating and a $46.00 target price on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.42.

In other news, CAO John Kitlen sold 1,500 shares of Newmont Goldcorp stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $43.78, for a total value of $65,670.00. Following the completion of the transaction, the chief accounting officer now owns 38,173 shares of the company’s stock, valued at approximately $1,671,213.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jennifer Cmil sold 2,570 shares of Newmont Goldcorp stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.20, for a total value of $111,024.00. Following the completion of the transaction, the executive vice president now directly owns 24,391 shares of the company’s stock, valued at approximately $1,053,691.20. The disclosure for this sale can be found here. Insiders have sold 32,650 shares of company stock valued at $1,467,109 in the last three months. Insiders own 0.28% of the company’s stock.

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.

Further Reading: Bond

Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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