First Quadrant L P CA acquired a new stake in shares of Newmont Goldcorp Corp (NYSE:NEM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,115 shares of the basic materials company’s stock, valued at approximately $316,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new stake in shares of Newmont Goldcorp during the 2nd quarter valued at $487,000. DAVENPORT & Co LLC grew its stake in shares of Newmont Goldcorp by 12.3% during the 2nd quarter. DAVENPORT & Co LLC now owns 51,182 shares of the basic materials company’s stock valued at $3,160,000 after buying an additional 5,600 shares during the period. Hallmark Capital Management Inc. purchased a new stake in shares of Newmont Goldcorp during the 2nd quarter valued at $9,067,000. Pitcairn Co. grew its stake in shares of Newmont Goldcorp by 20.2% during the 2nd quarter. Pitcairn Co. now owns 8,666 shares of the basic materials company’s stock valued at $535,000 after buying an additional 1,455 shares during the period. Finally, SignalPoint Asset Management LLC purchased a new stake in shares of Newmont Goldcorp during the 2nd quarter valued at $446,000. 81.29% of the stock is owned by institutional investors.
Several analysts have recently issued reports on the stock. TD Securities boosted their price objective on shares of Newmont Goldcorp from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Royal Bank of Canada restated a “hold” rating and set a $57.00 target price on shares of Newmont Goldcorp in a report on Tuesday. Raymond James lifted their target price on shares of Newmont Goldcorp from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday. Credit Suisse Group restated a “buy” rating and set a $72.00 target price on shares of Newmont Goldcorp in a report on Wednesday. Finally, Barclays lifted their target price on shares of Newmont Goldcorp from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $71.08.
In other news, CAO John Kitlen sold 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $54.30, for a total value of $108,600.00. Following the completion of the sale, the chief accounting officer now owns 47,742 shares of the company’s stock, valued at approximately $2,592,390.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dean Gehring sold 1,528 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $68.78, for a total transaction of $105,095.84. Following the completion of the sale, the executive vice president now directly owns 19,862 shares of the company’s stock, valued at approximately $1,366,108.36. The disclosure for this sale can be found here. Insiders sold a total of 127,745 shares of company stock valued at $8,155,009 in the last three months. Insiders own 0.28% of the company’s stock.
Shares of NEM stock opened at $69.20 on Friday. Newmont Goldcorp Corp has a 12 month low of $33.00 and a 12 month high of $70.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.81 and a quick ratio of 2.81. The firm has a market capitalization of $52.70 billion, a P/E ratio of 41.56 and a beta of 0.34. The company’s fifty day moving average price is $61.12 and its two-hundred day moving average price is $54.20.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Newmont Goldcorp had a return on equity of 5.70% and a net margin of 36.79%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, sell-side analysts anticipate that Newmont Goldcorp Corp will post 2.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 9th. Newmont Goldcorp’s payout ratio is currently 75.76%.
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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