Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 34.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,736 shares of the basic materials company’s stock after purchasing an additional 10,890 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Newmont Goldcorp were worth $1,935,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Chase Investment Counsel Corp acquired a new stake in Newmont Goldcorp during the 1st quarter valued at approximately $3,579,000. AGF Investments LLC grew its stake in Newmont Goldcorp by 28.6% during the 1st quarter. AGF Investments LLC now owns 29,243 shares of the basic materials company’s stock valued at $1,324,000 after purchasing an additional 6,509 shares in the last quarter. AGF Investments Inc. lifted its holdings in Newmont Goldcorp by 33.1% during the 1st quarter. AGF Investments Inc. now owns 258,772 shares of the basic materials company’s stock worth $11,717,000 after buying an additional 64,348 shares during the last quarter. Commerce Bank lifted its holdings in Newmont Goldcorp by 11.7% during the 1st quarter. Commerce Bank now owns 40,548 shares of the basic materials company’s stock worth $1,836,000 after buying an additional 4,259 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Newmont Goldcorp during the 1st quarter worth approximately $1,917,000. Hedge funds and other institutional investors own 81.48% of the company’s stock.
In other Newmont Goldcorp news, CAO John Kitlen sold 1,500 shares of Newmont Goldcorp stock in a transaction on Monday, April 6th. The stock was sold at an average price of $48.43, for a total transaction of $72,645.00. Following the sale, the chief accounting officer now owns 41,734 shares of the company’s stock, valued at approximately $2,021,177.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Cmil sold 2,580 shares of Newmont Goldcorp stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $50.00, for a total value of $129,000.00. Following the transaction, the executive vice president now owns 28,836 shares in the company, valued at $1,441,800. The disclosure for this sale can be found here. Insiders have sold a total of 108,383 shares of company stock worth $6,492,212 in the last ninety days. 0.28% of the stock is owned by company insiders.
A number of research analysts have commented on the company. Citigroup increased their target price on Newmont Goldcorp from $46.00 to $70.00 in a report on Wednesday, May 6th. Raymond James set a $73.00 target price on Newmont Goldcorp and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their target price on Newmont Goldcorp from $46.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. ValuEngine raised Newmont Goldcorp from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Deutsche Bank increased their target price on Newmont Goldcorp from $54.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Newmont Goldcorp currently has an average rating of “Buy” and an average price target of $69.08.
Shares of NYSE NEM opened at $63.05 on Friday. The company has a market cap of $50.95 billion, a price-to-earnings ratio of 14.56 and a beta of 0.40. Newmont Goldcorp Corp has a 12-month low of $31.10 and a 12-month high of $69.13. The company has a current ratio of 3.31, a quick ratio of 2.81 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $59.99 and its 200 day simple moving average is $47.06.
Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.66 billion. Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The firm’s revenue was up 43.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities analysts forecast that Newmont Goldcorp Corp will post 2.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 annualized dividend and a yield of 1.59%. This is an increase from Newmont Goldcorp’s previous quarterly dividend of $0.14. Newmont Goldcorp’s payout ratio is presently 42.42%.
About Newmont Goldcorp
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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